Hello everyone! As we sip our post-Halloween pumpkin spice (or just plain coffee, no judgment), it’s time to recap an eventful month in mortgages. I’m Michael Neef, and I’ve been catching up with many of you. The consensus? Relief – however slight – is in the air. In this newsletter, I’ll break down the latest industry news, share some forecasts for what’s next, and dish out a few tech tips (with a dash of humor only a mother could love) to help us all survive and thrive in today’s mortgage world. Let’s dive in!

Industry News & Market Trends

Mortgage Rates Treat Us (No Tricks): After a long stretch of pain, mortgage rates finally dipped to their lowest levels in over a year[1]. The 30-year fixed hovered around 6.2–6.3% in late October – a number we haven’t seen since 2024. This decline was fueled in part by the Federal Reserve’s shift in policy; the Fed even delivered a quarter-point rate cut on Oct. 29 (bringing its benchmark down to ~3.75–4.0%) in a bid to support the cooling economy[2]. For those of us counseling rate-wary borrowers, this was like an unexpected holiday gift. Lower rates have given sidelined homebuyers a reason to perk up and re-check those listing apps.

Loan Applications Stirring: Not surprisingly, borrowers are responding. According to the MBA’s weekly survey, mortgage applications jumped 7.1% in the week ending Oct. 24[3]. Refinance applications led the charge (up 9% in one week, and an eye-popping 111% higher than a year ago!) as homeowners rushed to seize the dip in rates[4]. Purchase applications also ticked up ~5% for the week[4]. It’s a sign that a little rate relief can go a long way. Now, let’s keep perspective: activity is still far below the boom times, but any uptick in volume is welcome in this market. As one MBA economist noted, the 30-year rate dropping to ~6.30% (a 13-month low) “spurred the second consecutive week of increased refinance activity”[1] – something we hadn’t been able to say in a long time. In plain English: borrowers finally smelled a deal, and they’re acting on it. (If your phone hasn’t started ringing a bit more, it might be time to check if it’s on silent!)

Housing Market Snapshot: On the home-front, there are a few positive signs for buyers. Housing inventory has been slowly improving in many markets, taking pressure off prices. In fact, the Mortgage Bankers Association reported that rising inventory and flat prices have started to improve affordability – enough that they expect home sales to pick up in 2026[5][6]. Some overheated markets (looking at you, Florida, Colorado, Arizona) are even seeing year-over-year home price declines as supply grows[7]. This means our clients might finally have more options (and a bit more bargaining power) when home shopping. Of course, it’s not universal – parts of the Northeast are still tighter than my dress pants after Thanksgiving, with prices staying elevated[7]. But on the whole, the worst of the frenzy seems behind us. For loan officers, this shift is a reminder that educating clients on local conditions is key. Every market is different, but the general trend is more balance returning between buyers and sellers. We’ll take it!

Profitability and Pivots: It’s no secret the last year or two forced us all to tighten belts. The good news: lender profitability is showing signs of life. MBA noted that Q2 2025 saw the highest net production profits since 2021 – breaking a streak of 10 quarterly losses[8]. In plain talk: those painful cuts and efficiency moves are finally paying off. Many lenders achieved this by embracing technology and process improvements to cut origination costs[9]. Others decided it was merger time (because if you can’t beat the market, maybe join forces?). As one industry veteran joked, “We chose to do the hard work in a hard market, so our LOs will be the big winners on the other side”[10]. Translation: companies that invested in better tech and training now hope to outrun the competition as things stabilize. All in all, the industry mood is shifting from pure survival mode back to strategic growth – cautiously optimistic, with an emphasis on cautiously.

Tech Corner: AI Innovations & Mobile Trends

Technology continues to rewrite the rules of mortgage lending – for better and (sometimes) for head-scratching 🤖. Here are the tech highlights from the past month, filtered through my coffee-fueled brain:

AI at Center Stage (Literally): If 2023 was the year everyone talked about AI, late 2025 is when talk turned into action – and a bit of anxiety. At the MBA Annual Conference in Las Vegas last month, AI dominated the conversation[11]. You couldn’t walk three feet at the Expo Hall without hearing about some “AI-powered” magic wand. One CIO even cautioned that “we’re in the middle of an AI bubble”, comparing today’s hype to the dot-com craze[12]. (Anyone remember 2000? Pepperidge Farm remembers, and apparently so do seasoned tech folks.) His point: lenders are racing to tout AI capabilities, but we should beware of shiny objects with no real use case. Other panelists were more optimistic – with caveats. They’re bullish on AI but stress the need for strong use cases and real ROI before jumping in headfirst[13]. The overarching theme was “AI won’t replace loan officers – but loan officers who use AI might replace those who don’t.” In other words, the tech is here to augment, not automate us out of a job. In fact, Guild Mortgage’s CEO underscored that human qualities like empathy, trust and the ability to truly listen are “irreplaceable” in our business[14]. That got a round of applause from the crowd of LOs (and maybe a sigh of relief too). The takeaway: Embrace the new tools, but remember our people-first business isn’t going fully robo anytime soon.

New Tools & Cool (or Curious) Gadgets: Every week it seems there’s a new platform or feature promising to make loans faster and easier. One headline that caught my eye: a leading mortgage tech provider (our friendly industry rival, Floify) launched a built-in AI in their loan app portal[15][16]. Instead of making borrowers fill out endless forms, their system now lets clients upload paystubs, W-2s, IDs, etc., and the AI automatically reads and extracts the data to pre-fill the application[16]. Pretty nifty – it’s basically putting the document work at the beginning of the process rather than the end. Anything that reduces manual data entry for us and gets the borrower to “application complete” faster is a win in my book. (I can already hear some of you cheering: “Yes, please, read these paystubs for me!”) This move validates what we at Pre-Approve Me have believed for years: smart automation early on can save everyone time. In fact, we’ve been laser-focused on streamlining the borrower experience and eliminating repetitive tasks for LOs – it’s nice to see others in the industry catching up 😉. The key for any such tool is reliability and integration. Floify’s approach keeps everything in one platform, avoiding the patchwork of portals we all hate[17]. Consider it one more sign that the POS (point-of-sale) platforms are evolving rapidly. (And don’t worry – we’re not sitting still on our end either, but I’ll save the product plugs for another day!).

AI Making Mortgages Cheaper? You bet – at least that’s the bet some fintech startups are making. One particularly cool story: Multiply Mortgage, a newcomer on the scene, is using AI to slash lending costs and pass those savings to borrowers. Their platform automates tasks like doc review, underwriting and compliance checks, making the process leaner. The result? They claim they can knock up to 0.75% off the interest rate for borrowers by cutting out inefficiencies[18]. Think about that – nearly a full percentage point cheaper just by being tech-savvy. It’s marketed as “AI-efficiency = lower rates.” (I’m pretty sure that got the attention of some big lenders out there.) Multiply is even pitching this as an employee benefit – partnering with companies to offer lower-rate mortgages to their staff. It’s an innovative play, and while time will tell if it’s sustainable, it underscores a trend: tech innovation isn’t just about speed, it’s also about cost competitiveness. As margins tighten, we’ll see more lenders asking, “Where can AI shave off basis points and give us an edge?”

Mobile Matters (More Than Ever): Amid all the AI chatter, let’s not overlook the obvious: we live in a mobile-first world, and mortgages are no exception. The rising generations of homebuyers (hello Millennials and Gen Z) practically live on their phones. These clients prioritize convenience and transparency, and they gravitate toward lenders who offer digital-first, mobile app experiences with quick approvals and real-time updates[19]. Translation: if your loan process isn’t as easy as ordering a pizza on an app, you may be ghosted by the Insta/TikTok crowd. I say that half-jokingly, but it’s true – speed and simplicity win business. We’ve seen major lenders respond by overhauling tech stacks. For example, Movement Mortgage (a top 10 lender) just finished a massive 3-year tech transformation, unifying their CRM, POS, LOS, marketing, everything, into one platform designed for seamless, data-driven performance[20]. They even built it with an “AI enablement framework” to boost efficiency for LOs and better serve borrowers[20]. The message is clear: invest in tech now to be ready for the future. Whether it’s a bespoke app or an all-in-one system, staying mobile-friendly and digitally integrated is crucial to serving clients and staying competitive. If you’re a one-person shop, that could simply mean leveraging your company’s app more, texting updates rather than emailing, or using e-sign and e-notary tools that save your client a drive. Every little bit helps to modernize the experience. Remember, convenience is king – and today that means meeting borrowers where they are (usually on their phone, possibly in pajamas, at 10pm, shopping for houses online).

Now, before you say ‘we’ve got a mobile app’, let me stop you right there: having an “app” isn’t enough. If your borrower opens it once … then never again, or only when they are in the Mortgage Process Directly … you’ve basically built a fancy digital coaster.

The truth is: apps for app’s sake are useless. Modern borrowers expect value – something they’ll want to come back to, something that keeps them engaged along their journey, not just during the loan. Mobile tools help lenders “establish themselves as trusted advisors much earlier in the home-buying journey rather than just at application time.  

But a big problem … the big players in space don't get it.  

So if you’re asking, “Does my app really matter?”, the litmus test is: Does it serve the borrower beyond the ‘sign-here and we’re done’ moment? If yes — you’re in business. If no — it’s a missed opportunity.

And here’s where I believe Pre-Approve Me is playing the long game in a way no one else does.

Looking Ahead: Forecasts & Predictions

What does the crystal ball say for mortgages as we wrap up 2025 and head into 2026? I left my tarot cards at home, but thankfully we have experts and data to guide us:

Near-Term Rate Outlook: The consensus among industry economists is cautiously optimistic on rates. After this recent dip into the low-6% range, most forecasts see rates staying in the 6.0–6.5% band for the foreseeable future[21]. CBS News reported that experts expect rates to hang around the low-to-mid 6% range through November (with a chance for modest improvement if inflation keeps cooling)[22]. The Fed’s actions will be key – with recent rate cuts (finally!) and possibly more on deck by year-end, the hope is to keep mortgages affordable enough to entice more buyers back into the market[2][23]. However, nobody is predicting a plunge back to the 4% days; in fact, the MBA’s forecast assumes the 10-year Treasury will stay above 4%, which effectively caps how low 30-year mortgage rates can go[21]. Barring any economic surprises, don’t expect sub-6% rates to stick around. We might see brief dips (MBA thinks there will be “periods where rates drop” that spark refi waves[24]), but overall, plan for a new normal in the 6’s. As I often tell clients: date the rate, marry the house – if rates fall more later, refinancing is always an option. In the meantime, these current rates are the best we’ve seen in a year, and that’s nothing to sneeze at.

2026 Market Forecast – A Gentle Rebound: The Mortgage Bankers Association is projecting a modest but welcome rebound for our industry next year. At their October convention, MBA’s economists forecasted total single-family origination volume will climb about 8% in 2026, to $2.2 trillion (up from ~$2.0T in 2025)[5]. In terms of loan count, that’s roughly 5.8 million loans in 2026 versus 5.4 million this year[25]. To break it down, purchase mortgages are expected to rise ~7.7% (to $1.46T) while refis could jump ~9% (to $737B) as slightly lower rates entice more homeowners to restructure[25]. Now, 8% growth isn’t exactly the boom times, but after the contraction we’ve been through, it’s a relief to see any upward trend. MBA’s chief economist Mike Fratantoni basically said the worst is over: with rates stabilizing and home prices flattening out, affordability will improve enough to boost home sales in 2026. They expect housing inventory to continue rising, which should keep home prices in check (in fact, they predict national home prices will slightly decline for a few quarters)[6]. That’s good news for first-time buyers who’ve been squeezed by high prices and high rates – relief on both fronts might finally be coming. One caution: MBA also noted some economic headwinds – a softer job market and stubborn inflation (partly due to things like tariffs) could play spoiler[26][27]. And larger budget deficits mean we shouldn’t count on rates falling much further[21]. In short, 2026 should be a bit better than 2025: a few more loans to go around, a bit more affordability, but not a crazy boom. Plan your business with growth in mind, yet stay ready to pivot if the economy throws a curveball (because it loves to do that).

Tech & Industry Predictions: Beyond the numbers, I predict continued rapid tech adoption across our field. The drive to cut costs and boost productivity will likely accelerate investments in AI, automation, and unified systems. As MBA’s Marina Walsh highlighted, many lenders are actively looking at tech and process improvements to bring down origination costs and lift productivity[9] – music to our ears as LOs, if it means less paperwork and more time for clients. Some firms will merge or acquire to achieve scale[28], but even those are often motivated by the technology game (acquiring better systems or platforms via M&A). Keep an eye on the POS space – competition (like the Floify move we discussed) will push all platforms, including Pre-Approve Me’s, to innovate faster. I anticipate more AI assistants being embedded in our everyday software, more predictive analytics in CRMs (maybe your database will soon nudge you, “Call Betty – she’s likely to move up based on her behavior”). The human touch, however, will remain the secret sauce. The winners of 2026 will be those who master high-tech and high-touch. In my crystal ball, I see loan officers leveraging slick mobile apps and AI-driven insights, while dialing up their personal advice and service. It’s like having an Iron Man suit – the tech is your armor, but you’re still the hero in the story, guiding the borrower through battle. Okay, that’s enough prophecy from me – my DeLorean is in the shop, anyway. Let’s wrap up with some practical tips you can use right now.

Tech Tips for the Modern Loan Officer

Before we conclude, here are a few practical tech-driven tips to help you work smarter (not harder) in today’s mortgage landscape. These are bite-sized and actionable – consider them November’s “turkey leftovers” you can actually use:

• Partner with AI in Your Workflow: Don’t fear the robot overlords – put them to work for you. For example, try using an AI tool as a “thinking partner” rather than just a fancy Google. When you learn to leverage AI beyond basic search, it can provide decision support, prep work, and personalized ideas at scale[29]. Whether it’s having ChatGPT brainstorm marketing copy or using an AI assistant to summarize a complex tax return, these tools can save you time. Tip: Start by identifying one tedious task you do each week (like compiling borrower FAQs or analyzing bank statements) and experiment with an AI assistant to handle the heavy lifting. You might be surprised at how much more you can get done when you delegate to the silicon assistant in your corner.
• Go Mobile or Go Home (Borrower Edition): If you haven’t already, make mobile-friendly service a top priority. As recent industry insights confirm, Millennial and Gen Z clients are far more likely to choose lenders with robust mobile apps and digital-first experiences – they want quick approvals, real-time loan updates, search for homes, and check status on the fly[19]. Review your own process from a mobile borrower’s perspective: Is your company’s app up to snuff? Are you promoting it to clients? Are your emails and websites optimized for phones? The easier you make it for clients to interact on their phone, the happier (and more loyal) they’ll be. In 2025 and beyond, “mobile or bust” isn’t just a catchphrase; it’s reality. Meet your borrowers on their screens, and you’ll meet them at the closing table, too.
• Keep Learning – The Tech Curve is a Moving Target: The mortgage tech landscape is evolving faster than a rate sheet on CPI day. Commit to continuous learning when it comes to new tools and platforms. Be proactive: attend that webinar on the latest LOS update, take an online course on leveraging CRM analytics, or volunteer to pilot a new tool your company is considering. As one industry resource advises, stay updated through training – hop on those webinars and certification courses to keep your digital literacy sharp[30]. It might feel like drinking from a firehose sometimes, but increasing your tech savvy is an investment in your career. The more fluent you are in the latest systems, the more you can focus on selling and advising instead of fighting with software. Remember, today’s time-saver can become tomorrow’s competitive edge if you master it before others do.
• Double Down on the Human Touch: This last tip isn’t a tech trick per se, but perhaps the most important of all. With automation on the rise, your human skills – empathy, communication, trust-building – are your superpowers. Use technology to free up time and insight so you can be more human, not less. As one CEO put it, in tough moments borrowers still want someone who can truly listen and show empathy, qualities that are “effectively irreplaceable” by any AI[14]. So deploy the chatbots and scheduling apps, yes – but you call the client when there’s confusing news. Use the fancy CRM, but you remember to congratulate them on that new baby or new job. Tech can enhance your relationships, but it can’t replace the genuine care you provide. Lean into that. The paradox of the future is: the more high-tech we become, the more high-touch we should strive to be. 💡 Pro-tip: Let your mobile app send out the automatic updates, but follow up with a personal text or call to ask if the client has questions. Small gestures mean a lot, especially when algorithms run rampant. Your advice, reassurance, and human touch are your unbeatable value-add in an AI world.

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I hope you found this roundup informative and maybe even a little fun (as fun as mortgage news can be, anyway!). The industry is changing quickly – sometimes it’s hard to keep up – but remember that change also brings opportunity. As we head into the final weeks of 2025, I’m encouraged by the resilience and adaptability I see in our community of mortgage pros. We’ve navigated a tough market and come out smarter, leaner, and ready to conquer the next chapter.

Stay warm, stay tech-savvy, and keep that sense of humor handy – it’s one of our best tools during turbulent times. 😉 As always, feel free to reach out with your thoughts or just to swap war stories. Until next time, happy lending!

– Michael Neef (CEO, Pre-Approve Me)

Sources: Industry data and news sourced from MBA, HousingWire, CBS News, National Mortgage News, Fast Company, and other publications from the past month, as cited throughout this newsletter.[3][14]

[1] [3] [4]  Mortgage Applications Increase in Latest MBA Weekly Survey | MBA

https://www.mba.org/news-and-research/newsroom/news/2025/10/29/mortgage-applications-increased-in-latest-mba-weekly-survey

[2] [22] [23]  What's the mortgage interest rate forecast for November 2025? - CBS News

https://www.cbsnews.com/news/mortgage-interest-rate-forecast-november-2025/

[5] [6] [7] [8] [9] [21] [24] [25] [26] [27] [28]  MBA Forecast: Total Single-Family Mortgage Originations to Increase 8 percent to $2.2 Trillion in 2026 | MBA

https://www.mba.org/news-and-research/newsroom/news/2025/10/19/mba-forecast--total-single-family-mortgage-originations-to-increase-8-percent-to--2.2-trillion-in-2026

[10] [20] Movement Mortgage completes LOS re-platforming, marking end of dramatic 3-year tech stack transforma | Movement Mortgage | Movement Mortgage Blog

https://movement.com/blog/2025/10/los-tech-stack-replatforming-complete

[11] [12] [13] [14] Artificial intelligence hype is a bubble, mortgage exec says | National Mortgage News

https://www.nationalmortgagenews.com/news/artificial-intelligence-hype-is-a-bubble-mortgage-exec-says

[15] [16] [17] Floify launches Dynamic AI: embedded intelligence that elevates the mortgage POS experience - Send2Press Newswire

https://www.send2press.com/wire/floify-launches-dynamic-ai-embedded-intelligence-that-elevates-the-mortgage-pos-experience/

[18] The 4 next big things in building and real estate tech for 2025 - Fast Company

https://www.fastcompany.com/91411163/buildings-real-estate-next-big-things-in-tech-2025

[19] [30] Top Mortgage Trends Shaping 2025 | OnCourse Learning

https://www.oncourselearning.com/resources/mortgage-industry-2025

[29] Why Every Loan Officer Deserves An AI Partner – NMP

https://nationalmortgageprofessional.com/news/why-every-loan-officer-deserves-ai-partner

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