General World News

Borrower demand declines amid a volatile mortgage market 

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. But don’t fool yourself — there are signs of volatility on the horizon. 

“Overall application activity declined last week despite lower rates, which is an indication of the still volatile time of the year for housing activity,” Joel Kan, Mortgage Bankers Association (MBA) vice president and deputy chief economist, said in a statement. 

According to the MBA, mortgage applications decreased 9% across the board for the week ending January 27 compared to details ⇒

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