This Monday morning is light on fresh mortgage news, so the day's most useful new item is a data point that slipped out late last week. FHFA's second-quarter Foreclosure Prevention Report, released September 24, shows Fannie and Freddie loans 60 or more days late at 0.83% at the end of June, with serious delinquencies at 0.59% and foreclosure starts up 1.9% to 25,908. National Mortgage News read the same report for the earlier stage of trouble: loans 30 to 59 days late rose 13 basis points on the quarter to 1.05%. Serious delinquencies held flat on the quarter; the earlier buckets moved up. FHFA also noted refinance volume fell in the quarter as rates climbed. On pricing, Bankrate's conventional 30-year is 7.22% this morning, unchanged since Friday and at the top of its 90-day range, and the 10-year is trading near 5.21% in early Monday dealing against Friday's 5.17% close.
The weekend did not change the setup that Sunday's edition laid out. Freddie Mac's weekly survey printed 7.03% last Thursday, up 0.08 on the week and 0.37 over four weeks on its own figures, and Mortgage News Daily's index sits at 7.43%. One thing that is off the table: Congress passed, and the President signed on September 2, a stopgap that funds the government through December 11, so there is no October 1 funding lapse standing between you and Friday's jobs report.
The demand side is softening at the same time. HousingWire's weekly housing tracker reports purchase applications down 11% from a year ago and pending sales at 59,316 for the week against 65,152 a year earlier, with price cuts on 42.5% of listings. Earlier-stage delinquencies edging up alongside softer purchase demand is the backdrop this week's inflation and jobs data land into, and those two prints are what can move pricing before the Fed meets again.
The week's calendar: Case-Shiller publishes Tuesday, September 29; BEA's August Personal Income and Outlays report, with PCE inflation, lands Wednesday, September 30; Freddie's survey and jobless claims follow Thursday, October 1 (claims last printed 197,000); and the September jobs report and unemployment rate arrive Friday, October 2, with unemployment last at 4.1%. The next FOMC meeting is October 27–28 and carries no new dot plot. On a $400,000 loan, today's 7.22% works out to about $2,721 a month in principal and interest, against about $2,589 at the 6.73% Bankrate showed on August 28 — roughly $132 a month more. Two October 1 changes land Thursday as well: HUD's Section 184 upfront guarantee fee rises to 1.50%, and HUD's FY2027 Fair Market Rents take effect.
Industry and regulatory notes: a CFPB mortgage examiner has sued the bureau alleging discrimination and retaliation over pay and promotions, according to National Mortgage News; it is an employment case and does not change any rule or exam procedure lenders operate under today. HUD opened a 30-day comment window on its race and ethnic data collection (FR-7107-N-24), with comments due October 28.
Things you may have missed this week: New Jersey Assembly Bill 5422 would let a buyer ask, within 30 days of closing, for interior listing photos to come down from the MLS, brokerage sites and third-party databases, with fines up to $500 for a first offense; it is newly introduced, not law. And the Urban Institute's 2025 Well-Being and Basic Needs Survey, as reported by HousingWire, found 21.6% of middle-income renters had trouble paying rent, up from 14.3% in 2024 — context for the first-time buyers in your pipeline who are weighing rent against a 7%+ payment. Still on the board from last week: Fannie Mae's rental income changes (SEL-2026-08) now take effect December 1, FHA feedback on its draft Minimum Property Requirements closes November 6, and UAD 3.6 and the new URAR become mandatory November 2.
pull the past clients you closed in the last 18 months at a rate above 7% and put a short check-in call on your calendar for each this week — asking how the payment is sitting keeps the relationship warm now and puts you first in line when a refinance makes sense.