Rocket Mortgage’s deliveries ebbed 3.4% from July, to $7.76 billion, but its edge over United Wholesale Mortgage expanded as the latter saw a 13.1% monthly decline in GSE sales to $5.81 billion.

“Margins this quarter were impacted by competitive pricing within the industry, especially with larger mortgage originators, better pricing on new deals and a higher proportional mix of larger clients with lower risk-adjusted pricing relative to the prior quarter,” said Kevin Comps, president and secretary of Northpointe Bank.

Mortgage sale activity by banks increased by 6.7% on a quarterly basis in the second quarter.

Jumbos accounted for 18.8% of originations in the second quarter of 2026, the highest share for the products since late 2022.

Issuance of agency mortgage-backed securities increased by 4.6% on a monthly basis to $115.92 billion in August.

The retail channel accounted for 53.7% of originations in the second quarter.

Repurchases increased by 16.5% from the first quarter.

PNC Bank, now the top FHLBank borrower, ended the second quarter with $40.42 billion in outstanding advances, more than doubling its total from the end of March.

Among the 333 banks and thrifts that report mortgage-banking income on call reports, income declined by 6.1% on an annual basis in the first half of 2026.