Mortgage Bankers Association (MBA)

Resilient job market fuels record low delinquencies, yet early signs of credit stress emerge in certain states

Rising interest rates and low inventory fuel decline in mortgage applications, with 30-year fixed mortgage rate hitting highest level since 2002.

There was a notable decrease in the jumbo category.

Warning issued over new rules by government agencies.

MBA says drop due to rising rates and declining inventory.

The national median mortgage payment drops marginally and affordability was flat.