Issuance of non-agency mortgage-backed securities increased 34.2% from the fourth quarter of 2025 to the first quarter of 2026, according to a new ranking and analysis by Inside Nonconforming Markets.

The average single-family home generated $4,427 in taxes in 2025, a 3% increase over the prior year.

Purchase-mortgage volume in agency MBS issued in the first quarter of 2026 was essentially flat compared with the first quarter of 2025.

“This combination of credit quality, yield and rate protection has drawn interest from asset managers, insurance companies and hedge funds,” said Adam Beeler, global head of strategic partnerships and new business development at Angel Oak Capital Advisors.

Multiple GSE officials told Inside The GSEs that no changes have been made to their selling guides regarding crypto assets, even with a splashy planned mortgage product from Better Home & Finance.

The average interest rate on a 30-year fixed-rate mortgage fell to 6.37% as of Thursday, down from 6.46% the week prior, according to Freddie Mac.

Banks sold $125.65 billion of mortgages during the fourth quarter of 2025.

An uptick in refinance activity wasn’t enough to offset the seasonal decline in purchase-mortgage volume.

Pennymac typically issues its own non-agency MBS.

Redwood Trust and an affiliate of AmWest Funding are in the market with separate non-agency MBS.