MBA Chart of the Week: Annual Origination Counts

Last week at the MBA Annual Convention and Expo in Philadelphia, our Research & Economics team presented the October forecast, which showed that total mortgage origination volume is expected to increase to $1.95 trillion in 2024 from the $1.64 trillion expected in 2023.

MBA Chart of the Week: Selected Indexes of Housing Costs

The monthly cost burden of purchasing a new home, as interest rates and house prices rose precipitously in 2022, continued in the first few months of 2023. For example, MBA’s Purchase Applications Payment Index (PAPI), hit a new high in May. Since then, despite 30-year mortgage interest rates eclipsing 7%, the index has come down slightly as median loan application amounts moderated. We are, however, still in record territory as shown by the solid green line in this week’s chart.

MBA Chart of the Week: Selected Indexes of Housing Costs

The monthly cost burden of purchasing a new home, as interest rates and house prices rose precipitously in 2022, continued in the first few months of 2023. For example, MBA’s Purchase Applications Payment Index (PAPI), hit a new high in May. Since then, despite 30-year mortgage interest rates eclipsing 7%, the index has come down slightly as median loan application amounts moderated. We are, however, still in record territory as shown by the solid green line in this week’s chart.