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.)