Mortgage demand continued its downward trend last week, reaching the lowest level in 25 years, according to the latest survey from the Mortgage Bankers Association (MBA). 

That indicates lenders may still face substantial declines in their origination volume in the last quarter of 2022. Depositary banks such as JP Morgan, Wells Fargo and Bank of America have already delivered double-digit contraction in their production in the third quarter, which is also expected of their non-depository peers.

The MBA survey shows that the mortgage composite index for the week ending Oct. 14 fell 4.5% from the prior week and details ⇒

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