We're seeing a notable shift in the commercial lending landscape: US commercial and multifamily mortgage originations jumped 16% year-over-year in Q2 2026, and 12% compared to Q1. This upward momentum is fueled by improving capital markets and heightened transaction activity—a welcome sign for property owners and investors navigating a previously challenging environment. Particularly encouraging: office financing volumes rebounded on both an annual and quarterly basis, reflecting renewed confidence after recent headwinds.
Looking at property types, retail led the way with a 61% increase in loan volumes, followed by office at 47%, hotels at 19%, multifamily at 8%, and industrial at 6%. However, activity remains uneven—health care originations declined 19% year-over-year, underscoring the importance of a tailored approach to investment and financing strategies.
From a capital sourcing perspective, securitized lending saw a significant 68% annual increase, and depositories rose by 61%. In contrast, government-backed lenders and life insurers decreased their activity by 17% and 27%, respectively. These dynamics highlight the value of a vertically-integrated advisory platform that can help property owners cut through complexity, optimize rent rolls, and uncover CapEx needs. With careful, step-by-step guidance, it’s possible to chart a predictable path toward investment goals, even as market conditions evolve.
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