Mortgage rates declined slightly in the government-insured market after the Trump administration directed Fannie Mae and Freddie Mac to purchase a combined $200 billion in agency mortgage-backed securities.

The last time a single company held more than $1.0 trillion of agency servicing was 2019, near the end of the reign of Wells Fargo atop the servicing market.

It remains unclear what types of MBS the GSEs are planning to buy and the span of the planned purchases, among other factors.

Volume with primary MI was up sharply in the fourth quarter of 2025 at both the government-sponsored enterprises and the Department of Veterans Affairs, while FHA volume lagged to some extent.

CHLA said a single-bureau credit pull could ultimately increase costs for borrowers, among many other issues.

Issuance of residential mortgage-backed securities increased by 13.8% on an annual basis, hitting $1.43 trillion in 2025.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased from 6.25% the week ending Jan. 2 to 6.18% last week.

The shift in credit scores was driven by refinance activity.

The combined entity of Rocket and Mr. Cooper overtook UWM for GSE loan sales in 2025.

The promised of increased MBS purchases by Fannie and Freddie is already having an effect on mortgage interest rates.