{
  "latestMonth": "2026-07-01",
  "latestRefiPct": 0.12780588351014008,
  "latestCashOutPct": 0.15318031939726173,
  "latestFthbPct": 0.504130577709173,
  "previousMonth": "2026-06-01",
  "previousRefiPct": 0.1483023123676372,
  "previousCashOutPct": 0.14027445376125622,
  "previousFthbPct": 0.5159446859618393,
  "meta": {
    "latestLoanCount": 340579,
    "previousLoanCount": 464632,
    "latestFthbLoanCount": 244881,
    "previousFthbLoanCount": 330549,
    "source": "motherduck",
    "database": "mbs",
    "table": "mbs.main.gse_mbs_loans_enriched",
    "windowMonths": 3,
    "notes": "Trailing 3-month rolling shares of loans from the latest disclosure cycle (AS_OF_MONTH). First-time buyer share is purchase loans only, not refinance. Drops the leading origination_month if its loan count is < 10% of the next-older month's count, so the sparse first-cycle sliver doesn't anchor 'as of'. Switched from agency_sf_mbs_originations rollup per polygon_risk Phase 7 cutover (Apr 2026).",
    "source_used": "motherduck",
    "max_age_seconds": 6480000,
    "next_expected_update": "2026-08"
  },
  "as_of": "2026-07",
  "refreshed_at": "2026-09-07T09:02:37.035Z",
  "freshness_status": "fresh",
  "source_mode": "live"
}