Commercial and multifamily mortgage originations will grow to $300 billion in 2014 — a 7% increase from last year, according to the latest forecast from the Mortgage Bankers Association.

The positive trend will continue through 2016 as originations in those categories increase to $333 billion, according to the MBA.

"Early indications are that commercial and multifamily lenders increased originations by 15% in 2013," Jamie Woodwell, MBA's vice president of commercial real estate research, said in a press release. "This year will once again see fewer loans coming up against their maturities. But with still low interest rates, improving property fundamentals, a rebound in property prices, and higher loan maturity volumes on the horizon, we anticipate mortgage originations will continue to increase in 2014."

Outstanding debt from commercial and multifamily mortgages will also rise in 2014, according to the forecast. Mortgage debt outstanding is projected to increase to $2.6 trillion by the end of 2014 — up more than 3% from the same period the year before. The MBA predicts that mortgage debt outstanding will reach $2.7 trillion by the end of 2016.

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