Refi originations increased by 96.8% on a quarterly basis in the fourth quarter of 2025. For the full year, refi volume was up 61.2% while purchase-mortgage lending increased by 2.4%. (Includes five data tables.)

Originations of home equity lines of credit and closed-end second liens continued to increase during the third quarter of 2025 but at a slower pace than in the previous quarter.

First-lien originations declined from the second quarter to the third, but the top five lenders boosted their share of production.

Mortgages tied to Ginnie Mae accounted for 18.3% of total servicing outstanding at the end of September. Some servicing share shifted away from the GSEs, though Fannie and Freddie still dominate. (Includes two data tables.)

Refi originations push warehouse lending commitments up during the third quarter. On an annual basis, commitments were up 11.1%, with a handful of warehouse lenders putting a strong emphasis on the business. (Includes data table.)

There was nearly $2 trillion in agency mortgage servicing with coupons over 6% at the end of the third quarter, a bounty of refinance business if mortgage interest rates decline. (Includes two data tables.)

Nonbanks aren’t exactly in a rush to hire new workers these days even though conventional rates are the lowest they’ve been in almost a year.

The Mortgage Bankers Association was not immune from the cyclical nature of residential lending in 2024. Then again, its financial results could have been a lot worse.

The total delinquency rate among large servicers increased by 11 basis points during the second quarter of 2025. The reading was down compared with June 2024, though delinquencies look poised for further increases. (Includes two data tables.)

Mortgage hiring moved forward in June but not by much amid uncertainty on the outlook for interest rates.