“The invasion of Ukraine is expected to result in instability for some time and could result in escalating cyber risks to our industry. As lending is a critical component of our nation’s infrastructure, we urge our members to remain extra vigilant for attempts to breach their systems through phishing and other attack methods.” --Rick Hill, Vice President of Industry Technology with the Mortgage Bankers Association.

Mortgage applications fell again last week to their lowest levels since 2019 as mortgage interest rates pushed to highs not seen in nearly three years, the Mortgage Bankers Association reported Wednesday in its Weekly Applications Survey for the week ending Feb. 25.