CFPB Releases Annual Mortgage Market Activity Report for 2022

On September 27, the CFPB released its annual report on residential mortgage lending trends for 2022. The report notes that the average monthly principal and interest payment for a new 30-year fixed-rate mortgage originations increased more than 46% year-over-year, owing to high home prices and mortgage rates. For the same reasons, there was a substantial decline in mortgage originations (down over 50%), particularly refinances. The report also finds that lenders increasingly denied loans due to insufficient income.

Read the Report