Mortgage Bankers Association (MBA)

The latest MBA report shows a marked increase in mortgage activity, driven by falling rates and a positive shift in market sentiment, despite challenges in purchase volume and inventory.

Refinancing activity gains momentum from lowest mortgage rates since August 2023.

MBA's PAPI went up, which means affordability is declining.

Kelley's focus will be on Republican members in the House.

Despite a 50 basis point decline in rates over past six weeks, purchase activity remained approximately 20% lower than the previous year.

Approximately 145,000 homeowners in forbearance as COVID-related reasons decrease.