CoreLogic: Foreclosure inventory tumbles 35%

CoreLogic: Foreclosure inventory tumbles 35%

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Lending

2 charts show exactly how the mortgage pipeline is drying up

Rising rates, affordability gap squeeze originations

April 11, 2014

Mortgage originations are at their lowest level in 14 years and everyone is expecting that will only get worse as mortgage rates creep up, but a sure insight into what the spring and summer hold can be found in the first quarter reports today from Wells Fargo (WFC) and JPMorgan Chase (JPM).

Adding to the headwinds are the rising affordability gap, investor driven price increases, and the much tighter lending standards imposed on the industry.

These two graphics from the Wells Fargo and JPMorgan quarterly reports give an insight into what’s happening to the mortgage pipeline.

From Wells Fargo...

And from JPMorgan...

(hat tip ZeroHedge)

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