In the first half of 2026, $120.88 billion of GSE purchase mortgages with private MI was securitized, a 4.5% increase from the first half of 2025.

The GSEs are acting like a relative value investor rather than crowding out other agency MBS investors, according to leaders of REITs that focus on agency MBS.

Much of the decline was from activity with seasoned mortgages.

"We’re comfortable with risk from many of the sellers out there that are already making those loans and selling them elsewhere," said Jason Harris, co-founder and CEO of Button Finance.

Average condo prices declined by 0.7% on an annual basis as of mid-July, according to Intercontinental Exchange.

Annaly generated $827.8 million of net income in the second quarter, nearly tripling its income from the first quarter.

Mark Begor, CEO of Equifax, dismissed concerns that mortgage lenders are looking at scores from both FICO and VantageScore to determine which score to use with mortgages delivered to the GSEs.

“Incoming data showed that inflation dropped in June, but with oil prices spiking again, that improvement seems unlikely to continue in July data, and mortgage rates are likely to remain higher as a result,” said Mike Fratantoni, a senior vice president and chief economist at the Mortgage Bankers Association.

The nonbank increased its Ginnie servicing portfolio by $15.70 billion during the quarter, including $14.35 billion in FHA servicing.

The largest holder of mortgage-backed securities among REITs increased its portfolio and boosted profits in the second quarter.