The minutes from the Federal Reserve's June Federal Open Market Committee (FOMC) meeting were released on Wednesday with some interesting tidbits for the real estate industry.

First was a direct mention of commercial real estate loan activity at banks:

"Commercial and industrial (C&I) and commercial real estate (CRE) loans on banks' balance sheets expanded at a rapid pace in April and May. Issuance of both agency and non-agency commercial mortgage-backed securities (CMBS) stepped down slightly in May from its strong pace earlier in the year. Small business loan originations through April were in line with pre-pandemic levels and indicated that credit appeared to be available."

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