An estimated $94.00 billion of adjustable-rate mortgages were originated in the fourth quarter, up 20.5% from the third quarter. For the full year, volume shot up 44.7% to an estimated $298.00 billion. (Includes data table.)

In 2025, the correspondent channel gained market share in the nonconforming market from the retail and broker channels. (Includes two data tables.)

Deliveries of conforming jumbos to the GSEs increased during the fourth quarter of 2025, though volume was down for the full year. (Includes data table.)

Production of adjustable-rate mortgages declined slightly during the third quarter of 2025, but were up 40.7% through the first nine months of the year.

Both the correspondent and broker channels picked up some market share from the retail channel in the third quarter of 2025. At Chase, the largest nonconforming retail lender among a group of 38 lenders, retail volume was up 1.6% during the third quarter. (Includes two data tables.)

The volume of conforming jumbo mortgages in the first nine months of 2025 fell by 17.2% compared to 2024. (Includes data table.)

The correspondent channel gained market share from both the retail and broker channels in the first half of 2025. (Includes data table.)

Retail lending among lenders in the analysis declined sharply during the first quarter while the correspondent and broker channels posted more modest declines in nonconforming production. (Includes two data tables.)

ARMs accounted for 12.1% of total residential mortgage originations in the first quarter of 2025, down more than a full percentage point compared with the previous quarter. Still, production of the loans was up from the first quarter of 2024. (Includes data table.)

Short-term mortgages track residential transition loans and fix-and-flip loans. Last year, originations were up 34.6% compared with 2023. (Includes data table.)