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Affordability Pressure Reaches Every Product
Alpharank’s first-party data shows pressure spreading into every category of consumer deposits and lending.
Start with housing. The National Association of Realtors reports that home contract signings fell 7.3% in September vs. August and a whopping 11.3% from the previous year (see NAR’s Pending Home Sales report). We’re now at levels not seen since the depths of COVID and even below the 2010 “Great Financial Crisis” low point.
The drop followed the rise in mortgage rates we tracked last month. The 30-year fixed rate crossed 7% in late September for the first time since January 2025 and kept climbing, reaching 7.40% for the week ending October 8.
September: Down Across the Board
Alpharank's first-party data show the median financial institution's approved applications fell in every category in September versus August:
🏡 Home Lending: -13%
💵 Deposits: -9%
💰 Personal Loans: -9%
🚗 Vehicle Loans: -8%
💳 Credit Cards: -5%
The biggest change was in auto lending. In August, vehicle loans were the only category to grow (+6%), but in September, even vehicle lending fell 8%. When consumers delay the purchases they need, not only the ones they want, the slowdown is no longer limited to housing.
Financial Institutions Competing Harder
With demand down in every product, every application counts more. The institutions that grow through this stretch will be the ones that find the remaining borrowers and depositors and convert them efficiently.
To win market share when demand is shrinking, you need to get the most from every dollar you spend and prove what is working.
Alpharank helps its clients navigate to optimize growth investments, typically seeing a +50% increase in funded accounts in the first six months. Reach out to our team today to see how we can help you do just this!
About Alpharank and our data:
200+ banks and credit unions trust Alpharank to optimize production from their online branch. Without collecting or storing personal information, our data models and benchmarks are trained on a unique dataset of over 8 billion full-funnel events with known balance sheet outcomes! That way, you can buy clicks from Google, Meta, etc., with the highest likelihood of becoming funded accounts. Simply put, only buy the good stuff and don’t let their “algorithm” drain your budget with lookers, not bookers.
🔎 Learn more about how you win with better click intent, journey efficiency and effectiveness, prospect quality, and campaign optimization. Request a free competitive assessment today.