Downpayment assistance programs are no longer just for first-time homebuyers with limited income.

Glass half full: Originations surged on an annual basis in the first quarter. Glass half empty: Lending declined on a quarterly basis as interest rates jumped in March.

Borrowers pulled back in March as interest rates on mortgages increased, but demand improved after rates fell at the end of March.

Stakeholders are speculating on the next steps for bringing the new credit scores to market without complete transparency.

The housing market is starting to see a decline in mortgage lock-in but it will take a while to reach a new equilibrium.

FHFA Director Bill Pulte said 21 large lenders will roll out the new score with the GSEs, though all lenders are eligible. FHA also plans to accept VantageScore and FICO 10T.

With interest rates elevated, lenders are urged to highlight the wealth creation potential of homeownership to encourage renters to take the plunge and purchase a home.

Industry watchers believe the abruptly cancelled FHFA/HUD press conference was tied to implementation of VantageScore 4.0.

BofA, Chase and Wells all increased production by more than 40% on an annual basis in the first quarter of 2026. But demand for mortgages diminished in March amid rising interest rates.

The five largest lenders accounted for 21.5% of originations in 2025. Nonbanks produced 65.6% of all residential mortgages. (Includes two data tables.)