Production of adjustable-rate mortgages increased almost across the board in the second quarter of 2025. As usual, banks led the charge. (Includes data table.)

An evolving regulatory environment under the Trump administration has created new interest in mortgages backed by cryptocurrency like Bitcoin and Ethereum.

Retail lending among lenders in the analysis declined sharply during the first quarter while the correspondent and broker channels posted more modest declines in nonconforming production. (Includes two data tables.)