Agency single-family MBS issuance rose 11% from the first to the second quarter, and midyear production was up 28% from 2025. But the refinance business is running out of gas and purchase-mortgage volume was flat compared with the first six months of last year. (Includes three data tables.)

In May, the combined retained mortgage portfolios of Fannie Mae and Freddie Mac saw their first monthly decline in more than a year.

More than 90% of expanded-credit mortgage production went into MBS in the first quarter of 2026. (Includes data table.)