Insider Q&A: Mat Ishbia, CEO of United Wholesale Mortgage

By ALEX VEIGA
AP Business Writer

LOS ANGELES (AP) — The housing market has slowed sharply this year as mortgage rates surged to a 20-year high, squeezing homebuyers’ purchasing power. Mortgage applications have fallen about 53% from January through November, according to the Mortgage Bankers Association. And sales of previously occupied homes are running at the slowest pre-pandemic pace in over a decade. United Wholesale Mortgage CEO Mat Ishbia recently spoke to The Associated Press about how the housing slowdown and higher mortgage rates have affected his company and his outlook for housing in 2023. The interview has been edited for length and clarity.