Editor’s Note: The Mortgage Mix is RISMedia’s biweekly highlight reel of need-to-know mortgage-industry happenings. Watch for it every other Friday afternoon.
– Mortgage rates have, as of the week of January 12, 2026, hit their lowest level in over 3 years: the 30-year fixed rate mortgage came in at an average of 6.06% while the 15-year fixed rate mortgage averaged 5.38%. In response to these lower rates, mortgage refinances picked up.
– MarketWatch found that, as of Q3 2025, 21.2% of U.S. homeowners now have a mortgage rate of 6% or higher, whereas only 20% of mortgages have a rate below 3%. This is the first time this has happened in recent years, following the lower mortgage rates offered during the height of the Covid-19 pandemic—and this change is welcome news for real estate agents. The prevalence of homeowners with 3% or lower mortgage rates and current mortgage rates standing above 6% are a combined factor that has impeded housing market activity; “rate lock” or “the lock-in effect” refers to homeowners with lower mortgage rates who do not to sell and take on a higher, 6+% mortgage rate. The number of homeowners with 6% or higher mortgage rates indicates more homeowners are casting off their “golden handcuffs” and willing to sacrifice the lower rate to move, and a higher rate will make them more likely to move in the future. Compass Chief Economist Mike Simonsen told Marketwatch that, as the lock in effect continues to fade, “That means more homes for sale, it means less upward pressure on prices and more selection for buyers.”
– President Donald Trump, on January 8, directed the government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae to purchase $200 billion in mortgage bonds in an effort to drive mortgage rates and monthly mortgage payments down. Realtor.com® Chief Economist Joel Berner, though, argued that a one-time infusion—even of a substantial sum such as $200 billion—is unlikely to have much lasting impact on the mortgage market.
– According to Federal Housing Finance Agency (FHFA) Director Bill Pulte, the Trump administration is moving away from its proposal for a 50-year mortgage. “I think we have other priorities,” Pulte told reporters last week—Pulte had previously called the idea of a 50-year mortgage a “complete game changer” in a post on X. The proposal for a 50-year mortgage had attracted criticism, including split reactions in the real estate industry, due to questions over whether a 50-year mortgage would actually lessen costs for borrowers, who would be paying for a much longer period of time than on a 30-year mortgage
– Prominent lender Newrez has announced that it will allow cryptocurrency assets to be used, without liquidation, for the asset verification and income estimation processes during mortgage origination. Newrez becomes the first of the top 25 mortgage providers in the U.S. to acknowledge crypto assets in this way. “We believe that now is the right time to prudently integrate eligible crypto assets into modern mortgage lending—enabling consumers to preserve investments while accessing innovative financing solutions,” said Newrez President Baron Silverstein in an attached statement to the company’s announcement. Newrez also framed the policy as a way to open the mortgage market up to millennials and Gen Z who hold crypto assets.
– Guild Mortgage has announced that it has selected mortgage software developer LoanLogic’s LoanBeam NQM program to automate income analysis for non qualified mortgage loans. “Non-QM mortgages create greater potential for lender error due to the unconventional financial profiles of borrowers who don’t typically meet standard income, employment, or credit criteria,” said Dave Parker, CEO of LoanLogics, in a statement on the announcement. “LoanBeam NQM helps manage this complexity by combining AI-powered document processing, human verification, and intelligent income calculation to transform income analysis from a labor-intensive manual task into a fast, accurate, and compliant digital process.”
– A bill introduced in the New Jersey state legislature would revise rules for reverse mortgages in the state, specifically stating that reverse mortgages are exempt from a rule that secondary mortgage loan payments be made in equal amounts and payment periods. The bill has been endorsed by the National Reverse Mortgage Lenders Association (NRMLA). “By formally excluding reverse mortgages from an irrelevant regulatory requirement, the bill promotes financial stability for New Jersey’s senior population without sacrificing any meaningful consumer protection,” the NRMLA said.
– A mortgage loan originator has received serious sanctions and fines after settling with 21 state financial regulatory agencies that accused him of directing someone else to take required education on his behalf and taking the credit for himself. Under the settlement, Patrick Terrance Donlon, who worked for Trusted American Mortgage LLC, is barred from practicing in most of the states, is restricted from practicing in others, and is required to pay fines totaling $31,000. By allegedly claiming credit for the education classes he did not take, the state financial regulators claim Donlon violated the SAFE Act, which Congress enacted to enhance consumer protection and reduce fraud through minimum standards for the licensing of mortgage loan originators. The act requires mortgage loan originators to have at least 20 hours of pre-licensing education and an annual eight hours of continuing education. State financial agencies in Arkansas, Colorado, Florida, Iowa, Kansas, and Texas led the settlement, following an investigation by the NMLS Mortgage Testing and Education Board. States that entered into the agreement include: Arizona, Arkansas, California, Colorado, Florida, Idaho, Illinois, Iowa, Kansas, Maryland, Michigan, Minnesota, Montana, New Mexico, Oklahoma, Ohio, Oregon, South Carolina, South Dakota and Texas. Per the terms of the settlement agreement, Colorado and Florida will receive $7,000 each. Maryland and New Mexico will not receive fines because Donlon had pending license applications in those states. The rest of the states will receive $1,000.
