Credit union mortgage lending is showing signs of improvement in 2026, but elevated interest rates, affordability concerns and limited inventory continue to shape borrower behavior, according to experts during this month's Inside the PRO Studio webcast. The discussion featured CU Times Senior Economics Reporter Jim DuPlessis and JC San Pedro, chief lending officer at Amplify Credit Union.
DuPlessis said mortgage originations are recovering from historically weak levels, though activity remains well below the market seen throughout much of the past decade. San Pedro said Amplify has experienced stronger purchase activity this spring and brief spikes in refinancing whenever mortgage rates approached 6%.
Rather than refinancing, many homeowners are turning to home equity lines of credit to tap the equity built during the housing boom while keeping their existing low-rate mortgages. San Pedro said borrowers are increasingly using HELOCs for debt consolidation and home improvements.
The discussion also highlighted affordability initiatives, including Amplify's first-time homebuyer and professional loan programs offering up to 100% financing without private mortgage insurance. Despite market challenges, San Pedro said credit unions can continue to grow mortgage relationships by focusing on education, personalized guidance and helping members find the lending solution that best fits their long-term financial goals.
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