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NonQM Nate NonQM NATE
Non-QM Wholesale Specialist

The deal your bank
couldn't close?
That's my specialty.

I help brokers and loan officers win the complex, non-traditional deals that fall outside the conventional box. Bank statements. DSCR. Foreign nationals. Self-employed. If it's Non-QM, it's my lane.

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100%
Non-QM focus
20.2%
Wholesale broker market share Q4 '25
Daily
Market intel for your pipeline
Fast
Scenario pricing, same day
Published Daily

This Week's Brief

Rate movements, industry headlines, and consumer & investor talking points, so you can walk into Monday sharper than anyone else in your market.

Friday, September 25, 2026 · Morning Brief
30-Year Fixed Tops 7.17%, Highest Since January 2025, as Fixed-ARM Spread Snaps Back to 70 Basis Points.
Fixed rates kept climbing to close the week, with the 30-year up 19 basis points to 7.17% and the 15-year up 13 basis points to 6.55%, while the 5/1 ARM pulled back 23 basis points to 6.47%, reopening a roughly 70 basis point fixed-to-ARM spread that had compressed to just 7 basis points earlier this week. The 10-year Treasury eased 2 basis points to 5.11%. Non-QM securitization issuance is on pace to hit $100 billion in 2026, up from $80 billion last year, with DSCR and investor products now roughly half of all non-QM collateral. Next week's core PCE and jobs report, out September 30 and October 2, are the next major catalysts for where rates head from here.
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30-Yr Fixed
7.17%
▲ 19 bps
15-Yr Fixed
6.55%
▲ 13 bps
5/1 ARM
6.47%
▼ 23 bps
10-Yr Treasury
5.11%
▼ 2 bps
Upcoming Calendar
  • → September 30: Core PCE and Q2 GDP. The Fed's preferred inflation gauge, and the last major data point before the October 27-28 FOMC meeting. A hot print keeps the 10-year pinned near current highs; a soft one could give fixed rates room to ease.
  • → October 1: ISM Manufacturing PMI. A secondary gauge, but worth a glance ahead of Friday's jobs number.
  • → October 2: September jobs report. A soft print would complicate the case for additional hikes even with inflation running hot, so watch how this balances against the PCE data two days earlier.
  • → Already in: fixed-to-ARM spread widened back to ~70 bps. After compressing to just 7 basis points earlier this week, the ARM's pullback to 6.47% against a 7.17% 30-year fixed reopened real daylight between the two products.
What You Get

Three ways I make your pipeline stronger

Whether you've got a deal that needs a home, a client who needs an education, or just want to stay ahead of the market — this is built for you.

📊
Daily Market Intelligence
Every morning: a full rate briefing, market analysis, industry headlines, and consumer & investor talking points you can use in your very next client call. No fluff. No subscription. Just signal.
🧠
Non-QM Scenario Expertise
Bank statement borrowers. Real estate investors with DSCR deals. Self-employed clients with complex tax returns. Foreign nationals. I live in these scenarios daily. Submit one and I'll price it fast and walk you through the options.
🤝
Wholesale Partnership
You keep the client relationship. I handle the product, pricing, and process. You close the deal and get paid. That's the wholesale model — and it's winning. Broker market share hit 20.2% in Q4 2025.
The Opportunity

Non-QM isn't a niche anymore. It's the edge.

The self-employed. The investor. The foreign national. The borrower with great income and a complicated tax return. These clients are underserved by conventional lending, and they're some of the most motivated buyers in the market.

  • Non-QM volume grew over 30% in 2024 with strong momentum continuing into 2026
  • Broker market share hit 20.2% in Q4 2025. The wholesale channel is winning.
  • Self-employed borrowers represent the fastest-growing buyer segment
  • DSCR loans make real estate investing accessible without W-2 income verification
  • One Non-QM approval builds a relationship that generates referrals for years
$1T+
Annual Non-QM origination market potential
16M+
Self-employed Americans who don't fit the conventional box
20.2%
Wholesale broker market share Q4 2025
30%+
Non-QM volume growth year over year
Published Every Weekday
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Prefer email? nneal@brokersadvantagemtg.com