TransUnion, Chicago, Ill., released its Q3 2023 Quarterly Credit Industry Insights Report, finding higher interest rates and prices for goods have pushed credit balances up. Simultaneously, mortgage originations–and other new credit accounts such as automobile loans–are lagging last year.
Tag: originations
MBA: Commercial/Multifamily Borrowing Down 49% in Third Quarter
Commercial and multifamily mortgage loan originations were 49% lower in the third quarter of 2023 compared to a year ago, and decreased 7% from the second quarter, according to the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.