AMBA Monday Morning News - Week of March 16, 2026 
Message from the Board
Fellow Alaska mortgage banking professionals,
March is doing what March does in Alaska. The days are noticeably longer, the sun is finally doing something useful, and that familiar energy is starting to build. You can feel it in the conversations with clients who spent the winter waiting, and in the pace of the market starting to pick up.
This business rewards people who stay ready. It is not always easy to stay sharp when conditions are uncertain, rates are moving, and the news cycle keeps shifting the ground beneath us. But that steadiness is exactly what separates good mortgage professionals from great ones. Your clients are not looking for someone who panics when the headlines get loud. They are looking for someone who can read the situation clearly and help them make good decisions anyway.
Whatever this week brings, you are better prepared than you think. This industry has always asked a lot of us, and Alaska mortgage professionals have always delivered.
"In the middle of difficulty lies opportunity." — Albert Einstein
Benjamin Reynolds - AMBA President
Thank you to the sponsor of our Monday Morning News
Next Luncheon!
THIS WEEK! - 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!
White House Signs Executive Order Directing Sweeping Mortgage Market Reforms
President Trump signed an executive order titled "Promoting Access to Mortgage Credit" on March 13, directing multiple federal agencies to consider significant regulatory changes aimed at expanding mortgage access and reducing compliance costs for community banks and smaller lenders. The CFPB is directed to modernize HMDA reporting requirements, including by raising asset thresholds for data collection exemptions and reducing inquiry-based reporting burdens. According to the White House fact sheet, federal banking regulators are directed to revise construction lending supervisory guidance to exclude one-to-four-family residential development from commercial real estate concentration limits, and servicing enforcement is to be reserved for actual borrower harm rather than good-faith technical errors. The order also directs expansion of digital mortgage tools including e-signatures and remote online notarization. No rule changes take effect immediately -- agencies must act through formal rulemaking, and most changes will require notice-and-comment processes.
Alaska Impact: For Alaska's community lenders and CDFIs, the HMDA threshold proposal and construction lending guidance changes could meaningfully reduce compliance costs and reopen capital for single-family development projects. Alaska's severe housing shortage makes the construction lending provision especially relevant to our market. AMBA will track agency rulemaking activity closely as these directives move through the process.
Freddie Mac: 30-Year Rate Edges Up to 6.11% Amid Geopolitical Volatility
The 30-year fixed-rate mortgage averaged 6.11% as of March 12, according to Freddie Mac's weekly Primary Mortgage Market Survey, up from 6.00% the prior week. A year ago at this time, the 30-year FRM averaged 6.65%. Freddie Mac Chief Economist Sam Khater noted that despite the modest uptick, buyers are responding to rates in this range, with purchase applications increasing as buyers enter the spring homebuying season with rates down more than half a percentage point compared to the same time last year. The week's rate increase came amid broader volatility tied to energy markets and geopolitical developments, rather than any single domestic factor.
Alaska Impact: Even with last week's uptick, the 30-year rate remains more than 50 basis points below where it was this time last year. For Alaska borrowers who locked into 7%-plus rates in 2023 and 2024, refinance conversations are very much worth having. Lenders should be proactively reaching out to that pool before rate conditions shift further.
February CPI Holds at 2.4%, but Iran Oil Shock Points to Higher Inflation Ahead
The consumer price index increased a seasonally adjusted 0.3% in February, putting the 12-month inflation rate at 2.4%. Core CPI posted a 0.2% monthly reading and a 2.5% annual rate, in line with forecasts. The February inflation data was gathered before the United States and Israel launched an attack on Iran, and the two-week conflict has already pushed up energy costs and raised prices at the pump for Americans. Economists broadly expect the oil shock to begin appearing in March CPI data, with some analysts projecting headline inflation could rise meaningfully if energy prices remain elevated. The February report is widely seen as keeping the Federal Reserve on hold at its March 17-18 meeting, with most market analysts now projecting the earliest realistic rate cut at June or later.
Alaska Impact: Alaska consumers already pay elevated prices for fuel and heating compared to national averages. A sustained oil price increase tied to the Iran conflict could compound cost-of-living pressures for borrowers across the state, affecting qualifying ratios and the affordability outlook heading into spring.
NAR: Existing Home Sales Rise 1.7% in February; Affordability Hits 4-Year High
Existing-home sales increased by 1.7% month-over-month in February to a seasonally adjusted annual rate of 4.09 million, according to the National Association of Realtors. Affordability improved for the eighth consecutive month, with NAR's Housing Affordability Index increasing to 117.6 in February from 103.1 a year ago, the highest level since March 2022. NAR Chief Economist Dr. Lawrence Yun noted that wage growth is now outpacing home price growth by nearly four percentage points, though inventory constraints continue to limit overall transaction volume. Total housing inventory rose to 1.29 million units, a 3.8-month supply, and the median sales price was $398,000. Analysts noted the spring outlook remains uncertain depending on how long elevated energy prices persist.
Alaska Impact: Improving national affordability metrics reflect real conditions Alaska mortgage professionals are seeing on the ground. Borrowers who were priced out or hesitant a year ago are increasingly able to qualify. Inventory remains the binding constraint in most Alaska markets, reinforcing the urgency of housing supply legislation currently moving through the state legislature.
MBA: Purchase Applications Surge 7.8%; Q4 Lending Hits 3.5-Year High
Mortgage applications increased 3.2% for the week ending March 6, according to the MBA's weekly applications survey. The seasonally adjusted purchase index increased 7.8% from the prior week and was 11% higher than the same week one year ago. MBA Chief Economist Mike Fratantoni noted that purchase activity increased particularly for FHA loans, which moved up more than 11%, adding that more inventory on the market is supporting more transactions. Separately, the March ICE Mortgage Monitor Report found that total mortgage originations reached an estimated 1.44 million in Q4 2025, the largest quarterly tally since Q3 2022, as refinances accounted for nearly 40% of fourth-quarter lending, the highest share since early 2022. Refinance volume remains 81% higher year-over-year, according to MBA data, reflecting the large pool of borrowers with pre-2024 rates who can benefit from today's market.
Alaska Impact: The nationwide uptick in FHA purchase activity is directly relevant for Alaska, where FHA loans are a significant tool for first-time buyers and borrowers in rural communities. Lenders and brokers should be prepared for a pickup in purchase activity through April and May as the spring season accelerates.
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.
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!
