Rate-term refinances fueled most of the increase in agency single-family MBS issuance last month, but the wave may already be running out of propulsion. (Includes two data tables.)

Declining interest rates helped to boost refi originations in the third quarter. United Wholesale Mortgage more than doubled its refi business. Meanwhile, purchase-mortgage volume declined slightly. (Includes five data tables.)

Remarkably steady net revenues at the GSEs mean fluctuations in profits are mostly due to below-the-line expenses. (Includes data table.)

JPMorgan Chase reported a $44 million increase in mortgage-banking income during the third quarter of 2024. Twenty-five other publicly traded banks boosted their combined mortgage banking earnings by $13 million. (Includes data table.)

Multifamily finance was one of the stars of the CMBS market in the third quarter, with securitization up 75% in the non-agency market and agency production rising 38%. (Includes two data tables.)

Mr. Cooper Group, already the largest primary servicer, increased its servicing volume by 2.8% during the third quarter while the amount of servicing outstanding grew by 0.8%. (Includes three data charts.)

The volume of adjustable-rate mortgages and interest-only loans flowing into expanded-credit MBS increased from the second quarter to the third.

Delinquency rates for FHA and VA mortgages pooled in Ginnie Mae MBS increased across the board in the third quarter, with the total delinquency rate on FHA loans topping 10%.

A whopping $91.6 billion of existing CLO deals were reset and refinanced during the third quarter, lifting year-to-date volume to $184.8 billion. While issuance of new CLO deals is also up strongly from 2023, third-quarter volume was down.

Mortgage originations typically decline from the second quarter to the third. This year, however, declining interest rates helped increase refinance production and prop up purchase-mortgage lending.