Mortgage lending - the lowest in 17 years

Reluctance to mortgage lending has been constantly increasing, hitting the lowest point in 17 years.

The cause is obvious enough as interest rates keep rising and spiced house prices make sure to hold borrowers at a safe distance.

The total loan volume that lenders did in the first quarter of the year didn’t pass $226 million. According to Bloomberg, this is the lowest amount lent since 1997.

Also, the most important lenders in the US, JP Morgan and Wells Fargo, admitted to having multi-billion dollar plunges in their loan volumes.