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Elevated interest rates drive down borrowing activity, while home equity provides relief amidst rising delinquencies.
Switching to two credit reports may sideline potential homeowners and result in higher costs.
Q2’s decline in total mortgage balances – the first since 2015 – shows spring homebuying season lenders were banking on barely materialized.
In Q4 2022, originations fell 65% year over year, the largest decline since TransUnion began tracking it.
'Low-to-moderate income, VA-eligible, and self-employed offer 'origination potential,' the study says.
Q2 2021 Industry Insights Report Explores Credit Trends
