The rise in interest rates during the third quarter limited originations and put pressure on profitability. The value of mortgage servicing rights increases as interest rates go up, but that wasn’t enough to offset declining production revenue at many banks. (Incldues one data table.)

Mortgage-banking income declined by 6.1% on an annual basis in the first half of the year. At Chase, the largest bank in the mortgage market, a drop in servicing revenue more than offset an increase in production revenue. (Includes one data table.)

A group of 13 publicly traded nonbank lenders reported a combined $2.20 billion in mortgage-banking income for the second quarter, down 32.3% from the first quarter. (Includes data table.)