“With many predicting home prices to decline this year, HELOC demand may fall; still, as shown by Maxwell data, volume currently remains strong, and lenders may find continued opportunity in this loan type,” the report stated.
The worst times for mortgage originations may be over as the market appears to be turning, but it’s still an unaffordable environment for younger borrowers in particular, according to a fourth-quarter 2023 lending report from Maxwell.
Loan volume between the third and fourth quarters declined by 21%, but that was far less than the 37% drop from Q3 2022 to Q4 2022, the report showed.
Meanwhile, loan volume in the fourth quarter was up by 1% year over year, a significant increase from the annualized decline of 65% in Q4 2022. And it marks the first year-over-year details ⇒
BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com