Executive Summary The July 2025 housing market reveals a landscape of shifting consumer behaviors, evolving lender strategies, and continued strength in borrower performance—especially within home equity. Origination volumes have dipped slightly, but direct marketing, particularly through Invitation to Apply (ITA) campaigns, is accelerating. As key players exit the space, gaps are opening across both marketing and origination, creating clear opportunities for agile institutions. This phase signals both caution and potential. The winners will be those who refine their marketing, sharpen segmentation, and deploy smarter risk monitoring in real time. TL;DR Risk Profile: Mortgage and HELOC delinquencies remain low. Slight increases in 90+ DPD are not yet cause for concern. Mortgage Originations: Modestly down, but marketing remains aggressive. Invitation to Apply (ITA) volumes outpacing prescreen. Home Equity Originations: Stable originations, competitive marketing volumes. ITA volumes outpacing prescreen similar to mortgage. Opportunity: Targeted direct mail and refined segmentation are growth levers in both mortgage and home equity. Risk Environment: Resilient Yet Watchful Experian’s July data shows both mortgage and home equity delinquencies hovering at historically low levels. Early-stage delinquencies dropped in June, while late-stage (90+ days past due) nudged upward—still below thresholds signaling broader distress. HELOCs followed a similar path. Early-stage movement was slightly elevated but well within acceptable ranges, reinforcing borrower stability even in a high-rate, high-tariff environment. Takeaway: Creditworthiness remains strong, especially for real estate–backed portfolios, but sustained monitoring of 90+ DPD trends is smart risk management. Home Equity: Volume Holds, Competition Resets Home equity lending is undergoing a major strategic reshuffle. With a key market participant exiting the space, a significant share of both marketing and originations is now in flux. What’s happening: Direct mail volumes in home equity nearly match those in first mortgages—despite the latter holding larger balances. ITA volumes alone topped 8 million in May 2025. Total tappable home equity stands near $29.5 trillion, underscoring a massive opportunity.(source: Experian property data.) Lenders willing to recalibrate quickly can unlock high-intent borrowers—especially as more consumers seek cash flow flexibility without refinancing into higher rates.   Direct Mail and Offer Channel Trends The continued surge in ITA campaigns illustrates a broader market pivot. Lenders are favoring: Controlled timing and messaging Multichannel alignment Improved compliance flexibility May 2025 Mail Volumes: Offer Type Mortgage Home Equity ITA 29.2M 25.8M Prescreen 15.6M 19.0M Strategic Insights for Lenders 1. Invest in Personalized Offers Drive better response rates with prescreen or ITA campaigns. Leverage data assets like Experian ConsumerView for ITA’s for robust behavioral and lifestyle segmentation. For prescreen, achieve pinpoint-personalization with offers built on propensity models, property attributes, and credit characteristics. 2. Seize the Home Equity Opening Use urgency-based messaging to attract consumers searching for fast access to equity—without the complexity of a full refi. Additionally, as mentioned above, leverage propensity, credit, and property (i.e. equity) data to optimize your marketing spend. 3. Strengthen Risk Controls Even in a low-delinquency environment, vigilance matters. Account Review campaigns, custom scorecards, and real-time monitoring help stay ahead of rising 90+ DPD segments. 4. Benchmark Smarter Competitive intelligence is key. Evaluate offer volumes, audience segmentation, and marketing timing to refine your next campaign. FAQ Q: What does the exit of a major home equity player mean? A: It leaves a significant gap in both marketing activity and borrower targeting. Lenders able to act quickly can capture outsized share in a category rich with equity and demand. Q: How should lenders respond to the evolving risk profile? A: Continue to monitor performance closely, but focus on forward-looking indicators like trended data, income verification, and alternative credit signals. Conclusion The housing market in July 2025 presents a clear message: the fundamentals are sound, but the strategies are shifting. Those ready to optimize outreach by making smarter use of data will seize a disproportionate share in both mortgage and home equity. Want to stay ahead? Connect with Experian Mortgage Solutions for the insights, tools, and strategies to grow in today’s evolving lending environment.  

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This is the first in a series that will highlight auto marketing trends to help you drive more effective marketing campaigns. With the second half of the year underway, one theme continues to prevail in conversations among auto marketers: measurement. With more focus to prove ROI, optimize campaigns in real time, and understand the full consumer journey, marketers are doubling down on attribution while sharpening their analytics tools.    One of the most widely adopted platforms in this space is Google Analytics 4 (GA4). Since its full rollout, GA4 has replaced Universal Analytics for digital measurement. Its event-based model offers new ways to track behavior and measure performance, especially in complex, multi-touch journeys like auto shopping.  Let’s break down four quick tips to help you unlock the full potential of GA4—plus a quick summary to dial in this type of measurement.  GA4 Tune-Up Tips for Smarter Auto Marketing: 1. Event-Based Tracking Offers Full-Funnel Visibility  Unlike Universal Analytics, GA4 focuses on events (rather than sessions) by tracking actions such as scroll depth, video views, CTA clicks, and more, giving you detailed insights into how users engage with your site. It’s especially helpful for A/B testing and understanding micro-conversions across the buyer’s online journey.  2. Use Clean, Consistent UTM Parameters  UTM parameters tell GA4 “where” your traffic comes from. However, if they’re inconsistent or overly complex, your reports will be too. Use a simple naming convention for channels and campaigns so you can easily see what’s working.  See example chart below:  3. Set Up GTM to Capture the Key Events  Google Tag Manager (GTM) tells GA4 “what” happens once a consumer arrives to your website.  Ensure GTM is set up to record important on-site actions—including page views, form submissions, phone clicks, or test drive bookings.  Start with GTM testing by using Preview Mode and Tag Assistant.   4. Extend Your Data Retention Window  By default, GA4 only stores user-level data for 2 months. If you want to track long buying cycles or compare year-over-year trends, go into your GA4 settings and extend the retention period to 14 months.  GA4 Tune-Up Tips Summary:  GA4 is Google’s enhanced analytics platform, built to give marketers a more flexible, cross-platform view of user behavior by using an event-based model designed for the future of measurement.  With industries like automotive — offline interactions, third-party sites, and long purchase paths are common. GA4 often needs to be supplemented with additional tools or CRM integration to capture the full buying journey. According to Neilsen, measurement of ROI across channels is more important than ever and marketers have an opportunity to fine tune it.  Discover how Experian Automotive can help measure your marketing performance with solutions like OmniImpact for Automotive™ and an Auto Response Analysis.  Next Up...  From personalized follow-ups to omnichannel messaging, forward-thinking retailers are evolving how they communicate with today’s car shoppers, and measurement is just one piece of the puzzle. In our series, we’ll explore another focus for Auto Marketers in the latter half of 2025: Messaging and Communication with your consumers.

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Data breaches continue to be a reality for organizations across industries, and the complexity of responding to them is only increasing. From AI-driven fraud to third-party exposures, the risk landscape is shifting fast. Having a modern and tested response plan is essential to containing the damage, protecting your customers, and preserving your organization’s reputation when a breach occurs. Experian’s eleventh annual Data Breach Response Guide draws on decades of breach support experience. It offers practical strategies and insights for navigating the moments that matter most: the first hours after a breach and the days that follow. The 2025–2026 guide explores: How AI is shaping new breach and fraud patterns Where organizations are most vulnerable, including third-party and supply chain weak points Consumer expectations and how they influence crisis response How prepared organizations are reducing impact and protecting trust What is required to build a modern, effective breach response plan Organizations with a tested plan can potentially reduce the cost, impact, and long-term consequences of a breach. From real-world case insights to crisis communication templates, this guide is designed to help teams act quickly and confidently. Download the 2025–2026 Data Breach Response Guide to learn how you can strengthen your breach preparedness, reduce risk exposure, and build resilience against the next wave of cybersecurity threats. Download guide

Experian is proud to be a Thought Leadership Sponsor at this year’s Federal Identity Forum & Expo. Meet us on site at FedID!

Now in its tenth year, Experian’s U.S. Identity and Fraud Report continues to uncover the shifting tides of fraud threats and how consumers and businesses are adapting. Our latest edition sheds light on a decade of change and unveils what remains consistent: trust is still the cornerstone of digital interactions. This year’s report draws on insights from over 2,000 U.S. consumers and 200 businesses to explore how identity, fraud and trust are evolving in a world increasingly shaped by generative artificial intelligence (GenAI) and other emerging technologies. Highlights: Over a third of companies are using AI, including generative AI, to combat fraud. 72% of business leaders anticipate AI-generated fraud and deepfakes as major challenges by 2026. Nearly 60% of companies report rising fraud losses, with identity theft and payment fraud as top concerns. Digital anxiety persists with 57% of consumers worried about doing things online. Ready to go deeper? Explore the full findings and discover how your organization can lead with confidence in an evolving fraud landscape. Download report Watch on-demand webinar Read press release  

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