Banks, thrifts and credit unions ended the year with $3.551 trillion of unsecuritized home loans on their books, a gain of 0.8% from the third quarter.
Commercial banks posted a surprising increase in MBS holdings during the fourth quarter, while foreign investors, money managers, life insurers and credit unions also grew their portfolios. (Includes three data tables.)
The biggest growth in the mortgage market during the fourth quarter was in home equity loans. Ginnie Mae continued as drum major in the MBS market. (Includes three data tables.)
The flow of refinance mortgages into agency MBS rose smartly from January to February. And year-to-date total issuance was up slightly from early 2023.
Production of agency high-balance loans held up slightly better than the downturn in non-agency jumbo originations, but both sectors recorded big quarterly declines.