Originations

Agency activity dropped off by 4% in September while non-qualified mortgage issuance was down 18% in the third quarter versus the prior period, BTIG said.

Zillow now predicts mortgage rates to end 2026 over 7%.

Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.

Given current rates are higher than the MBA and Fannie Mae forecasts, the industry could see further downside risk to the housing outlooks in October.

Last week's bond market turmoil continued leading up to the FOMC decision on Wednesday, pushing the 30-year fixed to near or over 7%, depending on the source.

The market initially showed relief after the initial confirmation of an anticipated inflation-fighting hike but discussion of a future raise renewed concern.

Rocket jumps first to raise 2027 conforming loan limits to $845,000, with Rate and CrossCountry matching; UWM's move still pending marking an early signal of IMB competitive positioning.

Bank of America Securities research shows this sector has had its best year since at least 2017, but some trends in the market point to a need for caution.

If Fed Chair Kevin Warsh's comments lack substance on inflation in the market's opinion, it is likely to drive mortgage rates even higher, NerdWallet warned.

The product expansion comes at a time when not just non-agency issuance is expected to have a record year, but other lenders are getting into wholesale.

Price gains slowed to a crawl from May to June, specifically in the West, but Central and East Coast regions showed steady year-over-year gains.

The Mortgage Bankers Association lowered its refi expectations by 5% this month, as rising mortgage rates are dampening borrowers' positions.

As tech facilities push into lower income and rural housing markets, lenders navigate local growth without major impacts on home sales price trends.

So far, annual home lending growth is on track to slow, but not stop, with some positive developments surfacing amid broader challenges.

For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.

An industry sentiment index hit a new low, with 45% of investors saying the current business environment has worsened compared to a year ago.

Lenders reported July declines of HECM endorsements and new securities issuances, but proprietary lending drove a 28% year-over-year surge in originations.

Originators need to keep an eye on the 10-year Treasury yield used in pricing mortgages, which not only broke through 4.6%, climbed above 4.7% on Thursday.

Equity levels grew to start 2026 after pulling back to end last year, as older homeowners increasingly say they prefer to remain in place rather than downsize.

Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.