"I have been a proud part of the MBA family for nearly four decades and am incredibly honored and ecstatic to serve as the next Chairman. With the support of Laura Escobar and Christine Chandler, I am confident that our industry will overcome the current tough market environment. I am committed to promoting financial literacy for young adults and focusing on advocacy initiatives that increase housing supply and improve affordability in communities across America." --Mark Jones, 2024 MBA Chairman and President of Union Home Mortgage

The monthly cost burden of purchasing a new home, as interest rates and house prices rose precipitously in 2022, has continued into 2023. Indeed, the most recent Weekly Applications Survey release noted that the 30-year fixed mortgage rate is at 7.67% – the highest level since 2000, and the Federal Housing Finance Agency’s House Price Index shows that house prices continue to appreciate even as interest rates have eclipsed 7%.