AMBA Monday Morning News - Week of March 23, 2026 
Message from the Board
Fellow Alaska mortgage banking professionals,
Spring showed up on the calendar this week, and in Alaska, that actually means something. The light is back. The cold is loosening. And if you work in mortgage banking, you know what comes next -- the phone starts ringing again.
This year, the spring market feels different from the last few. Purchase applications are running 12% ahead of last year's pace nationally, according to MBA data, and buyers who spent the winter watching rates from the sidelines are starting to move. The conversations you have in the next six to eight weeks will shape your pipeline for the better part of the year. That is not a forecast. It is what typically happens when inventory improves, prices stabilize, and buyers who have been waiting start to act.
There is also a lot happening at the policy level that touches our work -- in Juneau, in Washington, and at the Fed. We cover all of it below. Stay informed, stay connected, and have a strong week.
Benjamin Reynolds - AMBA President
Thank you to the sponsor of our Monday Morning News
Next Luncheon!
April 22, 2026 - Joint Industry Address
AMBA, Anchorage Board of REALTORS, Valley Board of REALTORS, and Anchorage Home Builders Association. Details and confirmation are still being finalized, but this event is shaping up to be a rare opportunity to hear from all four of Alaska's major housing industry associations in one room -- with each sharing priorities, market perspectives, and advocacy updates for the year ahead. Watch your inbox for registration details as they are confirmed. Questions? Contact us at [email protected].
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!
Fed Holds Rates Steady; Freddie Mac Reports 30-Year Climbs to 6.22%
The Federal Open Market Committee voted 11-1 at its March 17-18 meeting to keep the federal funds target range unchanged at 3.50% to 3.75%, citing elevated uncertainty tied to Middle East conflict, energy price pressures, and an inflation forecast the Fed raised to 2.7% for 2026. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 6.22% for the week ending March 19 -- up 11 basis points from the prior week -- amid rising Treasury yields driven by higher oil prices and lingering inflation concerns. The 15-year fixed averaged 5.54%. MBA Chief Economist Mike Fratantoni noted that the FOMC's projections showed "little changed with respect to the economic growth outlook," with the consensus now pointing to, at most, one rate cut near year-end.
Alaska Impact: Rates remain nearly half a percentage point below where they stood one year ago, giving Alaska buyers a real affordability advantage heading into spring. For lenders working with rate-sensitive borrowers, this week is a good time to revisit pre-approvals and set realistic expectations -- the near-term rate environment looks stable, not improving.
White House Signs Executive Order to Streamline Mortgage Access and Cut Regulatory Burden
President Trump signed an executive order on March 13 titled "Promoting Access to Mortgage Credit," directing HUD, VA, USDA, FHFA, and the CFPB to consider a range of regulatory changes aimed at reducing origination and servicing costs. Key provisions include expanding use of electronic signatures and remote online notarization, modernizing appraisal standards to allow AI-assisted valuation tools and hybrid appraisals, streamlining loss mitigation requirements, and simplifying escrow and servicing oversight. The order frames the effort as a response to two decades of Dodd-Frank-era compliance cost increases that it says have distorted mortgage market structure. Agencies are directed to consider these changes "as appropriate and consistent with applicable law," meaning formal rulemaking timelines remain uncertain.
Alaska Impact: Alaska mortgage professionals should watch for proposed rules on appraisal reform with particular attention -- appraisal availability and turnaround times in rural and remote Alaska markets have long been a friction point in loan closings. The e-note and remote online notarization provisions could also meaningfully reduce closing timelines across the state if adopted broadly.
Mortgage Applications Drop 10.9% as Rate Spike Hits Refinance Volume
MBA's Weekly Mortgage Applications Survey for the week ending March 13 showed total application volume fell 10.9% on a seasonally adjusted basis, the sharpest single-week decline since September 2025. The Refinance Index dropped 19% as borrowers pulled back in response to the rate increase, though refinance volume still ran 69% above the same week one year ago. Purchase applications edged up 1% on a seasonally adjusted basis and were 12% higher than last year's pace -- a signal that buyer demand is holding even as affordability headwinds return. According to MBA data, the FHA share of total applications rose to 19.4% and the VA share increased to 16.7%, both up from the prior week, reflecting continued strength in government-backed purchase activity.
Alaska Impact: The 12% year-over-year improvement in purchase applications nationally lines up with what many Alaska originators are beginning to see on the ground as spring buyer activity picks up. The refi pullback is a reminder to focus pipeline strategy on purchase clients -- and to stay in front of any borrowers who refinanced into the low-5% range during last year's dip and may be questioning whether to move.
AMBA Anchorage Assembly Meet and Greet Draws 60 Attendees, All Scheduled Candidates Participate
AMBA's Anchorage Assembly Candidate Meet and Greet delivered a strong turnout last week, with all scheduled candidates attending and approximately 60 industry professionals and community members in the room. The event gave AMBA members direct access to candidates for the Anchorage Assembly ahead of the municipal election -- an important opportunity to build relationships with the elected officials who will shape local policies affecting housing development, land use, and the business environment for mortgage and real estate professionals in the Anchorage market. AMBA thanks every member who attended, participated, and helped make the event a success.
Special Thank You to Our Sponsors: Residential Mortgage, Stewart Title, and the Anchorage Board of REALTORS. Your support made this event possible and reflects the kind of cross-industry collaboration that strengthens the entire Alaska housing community.
Alaska Impact: Anchorage Assembly members influence land use codes, permitting timelines, and local development policies that directly affect housing supply in Alaska's largest market. Events like this are a core part of AMBA's advocacy mission -- putting our members in the same room with decision-makers before the decisions are made.
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!
