Homebuyers borrowed more money in 2021 than ever before. Breaking the last set record in 2005. In 2021, the MBA – Mortgage Brokers Association – estimates that $1.61 Trillion in debt was taken out by buyers for home purchases.
While it’s still way too early in the year to say for sure, I wouldn’t be surprised if we broke that record again this year. Though rising rates may dampen that. We’ll see.