Commercial real estate lending nearly halved last quarter, a sign that uncertainty surrounding market conditions is continuing to hammer activity in the sector, according to the Mortgage Bankers Association.

Commercial and multifamily mortgage origination plummeted 49% year-year-year over the third quarter, with new loan origination declining 7% compared to the second quarter of this year, according to data from the MBA.

Mortgage originations declined for all property types and sources of debt capital, the MBA added.