Still... sorry but I strongly disagree... in a rising rate environment, home sales and therefore new mortgages requests, decline, accordingly.
Source: The Hill, 4/19/22, Lexi Lonas
The company gave multiple reasons why it is not expecting a recession as bad as the one seen in 2008 due to the current state of the housing market, including a mortgage credit quality that is “far superior” and mortgage servicers that are better equipped than they were at that time.
However, the company expects home sales, house prices and mortgage volumes all to drop in the next two year, Duncan said.
“In particular, we expect house price growth to decelerate to a pace more consistent with income growth and interest rates,” he said.
AIMHO, STRIKE
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