Applications for refis accounted for nearly 60% of mortgage applications received last week.

Union Home will acquire all of Sierra Pacific’s retail branches and wholesale-broker relationships.

Leaders in the Senate are considering attaching the ROAD to Housing Act to the National Defense Authorization Act.

"I think any outcome is ultimately an acceptable outcome," Michael Comparato, president of Franklin BSP Realty Trust, said of potential reforms to the GSEs.

The Fed will have a new governor in place as it considers monetary policy this week and Fed Governor Lisa Cook will also remain in place.

The Fed rate cut? The odds presently focus on a 25-basis-point trim on the short end of the stick.

The volume of adjustable-rate mortgages flowing into agency mortgage-backed securities jumped in the second quarter of 2025 and has remained elevated. Large nonbank lenders are driving the increase. (Includes data table.)

The retail channel accounted for 51.3% of first-lien originations in the second quarter of 2025.

"The backdrop for investors owning agency mortgages feels a lot more supportive," said Jay Bacow, co-head of securitized products research at Morgan Stanley.

PRMI is a portfolio manager founded in 2019 with ties to Merchants Bank of Indiana.