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.

Issuance of expanded-credit MBS increased by nearly 80% on an annual basis in 2025 to $75.91 billion. Prime non-agency MBS issuance was up nearly 40% to $45.19 billion. (Includes data table.)

Michael Fratantoni, chief economist and a senior vice president of research and business development at the Mortgage Bankers Association, predicted that interest rates will largely stay above 6.0% in 2026 and 2027.

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

Both Regions Financial and PNC Financial had declines in mortgage-banking income in the fourth quarter of 2025 tied to MSR valuations, net of hedging.

The median home price in California declined by 0.4% on a monthly basis in December.

President Trump effectively directed the GSEs to fill in the role that the Fed had been serving in terms of agency MBS investments. The stimulus could be short lived, with the purchases expected to wrap up by June.

More than $100 billion of loans in commercial MBS have maturity dates this year. Refinancing the loans could be difficult given interest rate movements and declining revenues from commercial properties.

SFA’s new director of advocacy comes from CSBS; Ginnie adjusts platinum MBS pooling; earnings per share at Orchid Island Capital up in fourth quarter; Setpoint to acquire due diligence provider.

President Trump’s announcement that the GSEs will buy $200 billion of agency MBS prompted mortgage spreads to tighten by about 20 basis points and some lenders to offer mortgages below 6.00%.