Mortgage Lending in NWA Sees Steep Decline Amid Inflation-Fueled Interest Rate Increases

March 21, 2023

Real Estate

Mortgage Lending in NWA Sees Steep Decline Amid Inflation-Fueled Interest Rate Increases

NWA Daily

After a series of rate increases to combat inflation and subsequent increases in home-loan rates, mortgage lending has reportedly slowed down in Northwest Arkansas.

  • Declining trend: Attom Data Solutions' fourth quarter mortgage report for Arkansas shows a decrease of 24.9% in the Northwest Arkansas area from the previous quarter, and a year-over-year drop of 50.1%.
  • Statewide slump: The report shows a similar decrease in mortgages originated in central Arkansas and the Fort Smith metro area, each with a quarterly decline of 14.6% and 25.6% respectively, and 62.5% and 53.2% decreases year-over-year.

Read the full report here.

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