AMBA Monday Morning News - Week of March 2, 2026 
Message from the Board
Fellow Alaska mortgage banking professionals,
In Alaska, March means the days are getting noticeably longer, the sun is actually warm again (except for this week, whatever is happening there...), and the phone is about to start ringing more. For most of us in the mortgage business, that shift in energy is real — buyers who spent the winter waiting start moving, and the market wakes up alongside the season.
And this year, the timing feels right. Rates are at their lowest point in over three years, the spring buying season is setting up better than it has in a while, and there's genuine momentum in the market. The conversations you've been having with clients who were on the fence — now is the time to revisit them. The conditions that were holding people back are starting to change.
It's a good time to be in this business in Alaska. Let's make the most of it.
Benjamin Reynolds - AMBA President
Thank you to the sponsor of our Monday Morning News
Next Luncheon!
Register Today - MarcH 18th Assembly Candidate Meet and Greet
March 18th marks one of AMBA's biggest events in our history. As of today, 15 of the 16 current Anchorage Assembly candidates have committed to joining us for a meet and greet, bringing the mortgage, real estate, and housing community face to face with the people running for office. Come have real conversations and make an informed decision before election day on April 7th.
This year's election is mail-in ballot only, and those ballots start hitting mailboxes on March 17th. That makes this event extremely timely. You'll have candidates in the room one day before your ballot arrives.
All of us have a heart for this city and want the best for the housing, finance, and business communities. We do this job every day, watching people struggle to get into homes, fight against affordability challenges, and navigate some of the biggest financial decisions of their lives. The people sitting in those Assembly seats should care just as much as we do.
Get in the room with your candidates and support AMBA and the Legislative Affairs Committee as we continue to advocate for you locally, in Juneau, and in Washington, DC. Tickets are available now with bulk ticket discounts, and bring your young professionals (35 and under) for just $25. Sponsorships are also available for companies that want to support AMBA's ongoing advocacy work.
Let's pack The Nave on March 18th and show these candidates that Anchorage's mortgage and real estate industry is ready to be part of the conversation.
REGISTER NOW!
News From Last Week
Register now to get our AMBA Member Discount for Live CE with Knowledge Coop!
AMBA is excited to announce that we are sponsoring this year's Live CE at The Megan Room with Knowledge Coop on April 7th, 2026. AMBA members can also get a special discount code for 20% off your total registration. To access this code, log in to your member account and click DISCOUNT CODES to register at a discount!
30-Year Mortgage Rate Drops Below 6% for First Time Since September 2022
Freddie Mac's weekly survey put the 30-year fixed-rate mortgage at 5.98% as of February 26 — the first time in more than three and a half years that the benchmark rate has dropped below 6%. Freddie Mac's chief economist noted that this rate, combined with improving home availability, should drive more potential buyers into the market heading into spring homebuying season.
Rates moved lower amid softer economic data, tariff uncertainty, and declining Treasury yields. As of today, the 30-year is holding in the 5.98–6.04% range — the best sustained level since late 2022. The Federal Reserve meets again mid-March with no rate move expected, which means this environment is likely to hold through the spring buying season.
Alaska Impact: This is the threshold moment borrowers have been waiting for. Clients who have been on the sidelines have genuine reason to act now heading into Alaska's spring market. For anyone with a rate in the 7–8% range from 2023, the refi math is worth running today.
FinCEN Residential Real Estate Reporting Rule Took Effect Yesterday — What You Need to Know
As of March 1, 2026, the Financial Crimes Enforcement Network's Residential Real Estate Reporting Rule is in effect. The rule requires certain professionals involved in real estate closings and settlements to submit reports to FinCEN on specific residential property transfers.
The key detail for most AMBA members: the rule applies to non-financed (all-cash) transfers where the buyer is a legal entity or trust. Transactions involving mortgage financing from regulated financial institutions are generally excluded. Title and escrow professionals are primarily designated as the reporting person responsible for filing through FinCEN's BSA E-Filing System. Reports are due by the last day of the month following the month of closing. Failure to comply carries civil and criminal penalties under the Bank Secrecy Act.
Alaska Impact: This primarily affects title companies, closing attorneys, and escrow professionals in Alaska. If your firm handles all-cash sales to entities or trusts, your compliance processes need to be active as of yesterday. Mortgage lenders whose transactions involve regulated financing are generally outside the rule's reach — but confirm with your compliance team.
Refinance Applications Up 150% Year-Over-Year
The Mortgage Bankers Association reported that the Refinance Index increased 4% week-over-week for the period ending February 20 and was 150% higher than the same week one year ago. VA refinances led the surge with a 26% weekly jump, and conventional refis rose 5%. Purchase applications were down 5% week-over-week but remain 12% above year-ago levels — healthy underlying demand building for the spring.
Alaska Impact: The refi opportunity is real and it's here now. Clients who closed in 2023 when rates were in the 7–8% range stand to save hundreds of dollars per month by refinancing into today's rates. This is one of the clearest client service opportunities we've seen in years.
Alaska House Passes Workforce Housing Bill — HB 184 Advances to Senate
The Alaska House passed HB 184 on a 23–15 vote on February 28, sending the bill to the Senate. The legislation clarifies and expands the Alaska Industrial Development and Export Authority's authority to finance construction of commercial housing with five or more units. Sponsor Rep. Andi Story called Alaska's housing shortage crisis level, and a 2023 consulting study estimated Alaska needs approximately 27,500 new units over the next decade to meet demand. A companion bill has already advanced to Senate Finance.
Alaska Impact: More housing supply is the foundation of a healthier mortgage market. HB 184's passage out of the House is a meaningful step. AMBA's Legislative Affairs Committee is tracking the bill's progress in the Senate and will monitor any amendments affecting financing structures relevant to our members.
Trump's $200 Billion Mortgage Bond Purchase Program
FHFA Director William Pulte confirmed last week that Fannie Mae and Freddie Mac have been executing the $200 billion mortgage bond purchase program directed by President Trump in January. Administration officials and some analysts say the purchases may have contributed to lower mortgage rates, though economists caution that multiple macro factors — including declining Treasury yields, moderating inflation, and slower economic growth — are also driving the decline. TD Cowen projects that if the purchase program continues as planned, mortgage rates could potentially finish the year near 5%. The 2026 conforming loan limit rose to $832,750, up from $806,500, reflecting a 3.26% rise in national home prices.
Alaska Impact: A combination of federal policy and broader market conditions is pushing mortgage rates lower — a direct benefit to Alaska buyers and the professionals who serve them. Supply constraints remain Alaska's biggest challenge, which reinforces the importance of advocacy efforts like AMBA's support for housing supply bills and affordability bills in Juneau.
Welcome New Members!
AMBA welcomes all Alaska mortgage banking professionals to join our growing community. Membership provides access to industry advocacy, professional development opportunities, networking events, and regular market intelligence updates tailored specifically to Alaska's unique market conditions.
Welcome First American Title!
2025-2026 Membership Benefits Include:
- Voice in state legislative advocacy through our new Legislative Affairs Committee
- Monthly educational sessions and industry updates
- Professional networking opportunities with Alaska mortgage banking leaders
- Access to Alaska-specific market data and trends
- Discounted rates for industry events and conferences
Contact AMBA at (907) 727-1076 or [email protected] to learn about Regular, Affiliate, Non-Profit, and Individual membership options. Visit alaskamba.org for complete membership information and dues structure. Join us in advancing Alaska's mortgage banking industry!
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