Equifax reported a decline in mortgage market transaction volume starting in late August, which accelerated through September. This shift followed a rise in 30-year mortgage rates to approximately 7.5%, up from 6.6% recorded in July. Consequently, the company saw a $20 million shortfall in U.S. mortgage revenue during the third quarter compared to its initial July guidance.
The company anticipates a further $60 million decline in U.S. mortgage revenue for the fourth quarter relative to previous expectations. Looking ahead to 2027, Equifax projects that mortgage market transactions will decrease by a high-single-digit percentage on average compared to 2026, with the primary impact occurring during the first eight months of the year.
Despite the mortgage sector downturn, Equifax noted that overall U.S. market conditions remain stable, supported by low unemployment rates. The company observed no significant changes in portfolio management reviews or consumer credit lines by financial institutions. Equifax reported a 10% revenue increase to $1.693 billion for the third quarter.
Following these market trends, Equifax revised its 2026 revenue guidance downward. The company now expects annual revenue to fall within the range of $6.646 billion to $6.676 billion. This projection represents a growth of 9.4% to 9.9% compared to the figures reported for 2025.
