Analysis and Data
Second biggest decline in investor interest since 2008.
Purchase and refinance loans both fell as mortgage rates increased across the board.
Analyst: Housing inflation at highest rate since 1982.
Earnings drop more than 40% in both Q4 and for the full year.
Increase was first since March 2022, ending nine consecutive months of declines.
CEO calls results 'exceptional,' outlines potentially 'unprecedented opportunity' in MSR deals in 2023-25.
Rising mortgage rates last year cut $305,000 off what a buyer could afford with a $3,000 payment, but that trend has started to reverse.
The 30-year fixed mortgage rate rose to 6.12%; 15-year fixed at 5.25%.
CEO says company is positioned to 'emerge even strong when the current down cycle ends.'
MBA says mortgage credit decreases even as rates are forecast to decline.