Mortgage lending drops in second quarter of 2022

The winter is typically the doldrums for house hunting and first mortgage originations, followed by a big bounce in the spring.

This year spring came unsprung at credit unions as the shriveling refinance market sucked any gain out of purchases.

First mortgages actually fell 5.3% from $58.1 billion in the first quarter to $55.1 billion in the second.

Jim DuPlessis

A journalist for decades.

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