VA refi issuance was the highest since the fourth quarter of 2021.

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.

Trump is set to reveal plans to address housing affordability and the Supreme Court will hear oral arguments on Trump's effort to remove Lisa Cook from the Federal Reserve's board of governors.

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.

Issuance of agency mortgage-backed securities increased by 10.8% on an annual basis to $1.235 trillion in 2025.

The correspondent channel accounted for 40.1% of the survey group’s government-insured production in the third quarter, up from 37.7% in the second quarter.

Some 69.8% of mortgages originated during the third quarter of 2025 were securitized.

Home prices will increase by 1.3% on an annual basis in 2026, according to projections by Veros Real Estate Solutions.

The Mortgage Bankers Association said its members see value in switching to short-term liquidation reporting.

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