The U.S. mortgage market has “weakened meaningfully” since July, though the rest of the U.S. market remains as healthy as it was, Equifax Chief Financial Officer and Chief Operations Officer John Gamble said Tuesday (Oct. 20) during an earnings call.

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“Mortgage market transaction volume began to decline later in August as interest rates started rising, with the decline accelerating as we moved through September, with 30-year mortgage rates reaching about 7.5% compared to 6.6% when we provided guidance in July,” Gamble said.

For Equifax, a provider of data, analytics and cloud technology, the decline in the mortgage market drove a $20 million decline in its U.S. mortgage revenue in the third quarter, compared to the company’s expectations in July, and an expected $60 million decline in the fourth quarter, compared to that earlier guidance, Gamble said.

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“As we look forward to 2027, using current mortgage market transaction levels across USIS [U.S. Information Solutions] and EWS [Equifax Workforce Solutions] and applying normal seasonal factors, 2027 mortgage market transactions, which we believe would be consistent with U.S. originations, would be down on average high-single-digit percent percentage in 2027 versus 2026, principally over the first eight months of the year,” Gamble said.

S. market conditions impacting Equifax’s other businesses remained relatively consistent with July, Gamble said.

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