America’s huge mortgage market is slowly dying

🌞 Rise and shine. It's Monday. Today's newsletter is 625 words, a 2.5-minute read.

1. Mortgage credit report costs could jump 45%-50%

Mortgage credit-report costs for mortgage lenders are projected to rise about 45%–50% in 2026, marking a fourth consecutive annual increase.

The escalation stems from higher data fees imposed by Experian, Equifax and TransUnion, combined with FICO-related charges and the stalled rollout of VantageScore 4.0. FICO maintains that bureaus are driving most of the added expense, while the MBA argues the three firms are exploiting a mandated, noncompetitive system.

Resellers report that even new pricing structures meant to cut costs are being offset by additional bureau and compliance fees. Lenders are responding by delaying full tri-merge pulls and considering upfront consumer charges.

2. NAR predicts housing market bounceback in 2026

Existing-home sales are expected to post a solid rebound in 2026, rising roughly 14% from this year’s levels, according to NAR’s Chief Economist Lawrence Yun.

The projected pickup follows a prolonged stretch of market whiplash. Yun says a confluence of easing mortgage costs, resilient hiring and steadier underlying demand is setting the stage for a firmer housing backdrop.

Prices are projected to climb about 4% next year, a reflection of buyers returning to a market still constrained by lean inventories. Borrowing costs, while elevated by historical standards, are forecast to drift lower, with the average 30-year rate hovering near 6% in 2026.

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3. More Nuggets

🏘️ America’s huge mortgage market is slowly dying. (The Economist)

⚖️ Real estate exec Ana Walshe’s husband goes on trial for her murder. (MassLive)

📊 Rising unemployment revives prospects for December rate cut. (CNN)

⚠️ Mortgage field safety spotlighted after October murder. (NMN)

4. Justice Department is investigating handling of Adam Schiff mortgage fraud probe

Federal prosecutors in Maryland are scrutinizing the conduct of two allies of U.S. President Donald Trump in their investigation of Democratic Senator Adam Schiff, according to a document reviewed by Reuters.

The department has asked a witness in the Schiff case for any communications and documents involving William Pulte, director of the FHFA, or any people acting at his behest, as well as anyone claiming to be working for the DOJ official Ed Martin.

Schiff is one of Trump’s longtime political foes, with the president in September pushing in a Truth Social post for Attorney General Pam Bondi to prosecute him.

5. Metros with the biggest home value boom since 2019

Home price growth has slowed to a crawl due to issues regarding affordability, mortgage rates, and more homes hitting the market. However, according to Realtor.com, ever since the pre-pandemic era, homes across the top 100 U.S. metros have seen double-digit increases in home values.

Here are the top 10 metros where home values increased the most since 2019:

☀️ You’re all caught up. See you on Wednesday!

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