As the mortgage industry grapples with rising delinquencies, affordability challenges, and conflicting economic signals, this week’s Lykken on Lending roundtable digs deep into the crosscurrents shaping the market. From the fallout of a $5 trillion tax bill to the Fed’s increasingly scrutinized stance on rate cuts, our experts explore how political pressure, global deflation from China, and shifting investor sentiment are impacting rates, housing demand, and credit risk. With FHA delinquencies nearing 12%, warehouse liquidity concerns bubbling up, and the cost to own now nearly double the cost to rent, the conversation turns toward what it will take to restore balance — and whether policymakers are equipped to lead the way.