General World News

The worst for mortgages may be over, but younger borrowers still face affordability challenges

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