Office of Research blog: Higher interest rates leading to higher debt burdens for mortgage borrowers

Mortgage interest rates have been rising sharply in recent months, impacting mortgage borrowers and applicants. Using quarterly HMDA data on closed-end home-purchase loans, we find that monthly payments and debt burdens (as measured by DTI) have increased, with a higher percentage of mortgage application denials reporting DTI as a reason for not qualifying.

Please follow and like us:

Leave a Reply

Your email address will not be published. Required fields are marked *