The refi share of originations hit 46.7% in the first quarter, thanks to low interest rates in January and February. Purchase-mortgage volume was up 3.7% compared to the first quarter of 2025. (Includes four data tables.)

Economists have dialed back their more optimistic expectations for mortgage rates this year after Iran war-triggered inflation undid the rate boost from MBS purchases by the GSEs.

Despite the decline, the delinquency rate at the end of March was above the level seen in March 2025. Some of the increase has been pinned on FHA loss-mitigation changes, though foreclosure activity is also rising. (Includes two data tables.)

Versions of the 21st Century ROAD to Housing Act have passed both the House and Senate with broad bipartisan support. However, differences persist.

The final rules clarify that the National Bank Act preempts state interest-on-escrow laws and codify national banks’ powers to maintain mortgage escrow accounts and to set their terms and conditions.

Industry members expect that the Basel III re-proposal could offer a modest boost to the mortgage industry over time, but seems unlikely to bring banks back to the business in droves.

Rocket claims prepayment rates on the loans bought as part of UWM’s MSR deals are roughly 2.5 times greater than prepayment rates for comparable pools and resulted in nearly $100 million in damages.

The delay signals that CrossCountry Mortgage will have to increase its bid price, according to analysts tracking the battle for Two Harbors.

On a year-to-date basis, Rocket’s deliveries to the GSEs more than doubled from the first four months of 2025, driven by its acquisition of Mr. Cooper, which was finalized on Oct. 1.

A boost in primary MI for refinance loans helped offset an across-the-board downturn in new coverage for purchase loans. Private MI earnings look to be on cruise control. (Includes four data tables.)