The annual increase in conforming loan limits creates a natural experiment for economists to examine how competition from nonbanks influences the operations of depositories.

Mortgage applications increase, led by refinances; three M&A transactions involving lenders/branches; home price appreciation trends.

The conventional-conforming share of first-lien originations declined from 59.2% in 2023 to 56.5% in 2024. Both government-insured products and nonconforming loans gained share. (Includes two data tables.)

Economists caution that forecasts for interest rates on mortgages come with more uncertainty than usual due to Trump administration policies on tariffs and other issues.

Even though their businesses depend on Fannie and Freddie, private mortgage insurance providers don’t seem worried about the Trump administration’s efforts to release the GSEs from conservatorship.

Trump’s election win stalled the Biden administration’s effort to impose tougher capital requirements for banks. Federal regulators are likely to continue to work on the reforms, but in a more bank-friendly way.

Freddie moves forward on second-lien pilot; MBA supports Trump nominee to lead CFPB.

Affordable housing advocates may be overestimating the challenges first-time homebuyers face in the current housing market.

Refinance lending ended 2024 on a high note as interest rates on mortgages declined in the second half of the year. The purchase-mortgage market saw little growth, most of it driven by first-time homebuyer activity.

Regulators and lenders will have to figure out how to comply with non-discrimination laws without resorting to the use of DEI.