According to the Mortgage Bankers Association's most recent Quarterly Survey of Commercial and Multifamily Mortgage Bankers Originations, U.S. commercial and multifamily mortgage loan originations decreased 13 percent in the third quarter of 2022 compared to the same period last year.
Based on new projections from the Mortgage Bankers Association, total U.S. mortgage origination volume is expected to decline to $2.05 trillion in 2023 from the $2.26 trillion expected in 2022. Purchase originations are forecast to decrease 3 percent to $1.53 trillion next year, while refinance volume is anticipated to decline by 24 percent to $513 billion.
According to global property consultant CBRE, there is a "flight to quality" playing out across 12 major U.S. markets as office-using companies adapt their workplaces for hybrid work.
After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve's June interest rate hike.
According to ATTOM's May 2022 U.S. Foreclosure Market Report, there were a total of 30,881 U.S. properties with foreclosure filings -- default notices, scheduled auctions or bank repossessions -- up 1 percent from a month ago but up 185 percent from a year ago.
Posted on March 23, 2022
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