Issuance of residential MBS was up 11.9% in the third quarter, thanks to a decline in interest rates that sparked increased refinance activity and bolstered purchase-mortgage lending. (Includes three data tables.)

The agency market may need continued growth in refinance lending to sustain the third quarter’s increase in single-family business. Fueled by surging refi volume, Ginnie grew its share of agency MBS issuance. (Includes two data tables.)

Fitch Ratings remained the top player for rating non-agency MBS in the second quarter of 2024 but the firm lost some market share.

Rated ABS issuance was relatively flat in the second quarter. In the non-agency MBS market, rated production was buoyed by the surging home-equity sector. (Includes two data tables.)

Ginnie Mae posted a 1.8% increase to finish the second quarter with $2.445 trillion in single-family MBS outstanding.

Rocket, UWM and loanDepot ranked first through third, respectively, in GSE buybacks during the first half of 2024.

While seller repurchases of Fannie loans fell sharply in the second quarter, buybacks of Freddie loans were up. Rocket Mortgage and United Wholesale Mortgage ranked at the top of GSE buybacks for the first half of the year. (Includes three data tables.)

Insurance companies are making a splash in the MBS market, as a number of different investor classes are tapping the agency — and non-agency — sectors. (Includes two data tables.)

Bank holding companies reported a 13% increase in the volume of MBS and ABS held in their trading accounts during the second quarter. Most of the increase was in agency single-family MBS. (Includes two data tables.)

All the top bank ABS investors reported reductions in their portfolios during the second quarter.