A gain in income from the production and sale of new single-family home loans helped cover a modest decline in servicing profitability in the third quarter.

At the end of November, the two government-sponsored enterprises held $104.56 billion of agency MBS in retained portfolios. That was up $31.99 billion from the end of September, a 44.1% increase.

Redfin said that it has been a buyer’s market since May 2024.

Home prices increased 2.6% on a year-over-year basis in November, the smallest increase since 2012.

Banks and thrifts saw a 6.1% increase in mortgage-banking income from the second to the third quarter.

Homes that went under contract last month spent an average of 53 days on the market, according to a new report by Redfin.

Existing-home sales increased in November, the third consecutive month of sequential growth.

In the fourth quarter of fiscal year 2025, the average sale price for homes sold by KB Home was $465,600.

Jayendran GS, CEO of Prudent AI, a mortgage tech provider, said the growing presence of AI in underwriting is alleviating some lender fear around the technology.

The Senate on Thursday confirmed Frank Cassidy as FHA commissioner and Joe Gormley as president of Ginnie Mae.