AMBA Monday Morning News - Week of April 13, 2026 
Message from the Board
Fellow Alaska mortgage banking professionals,
Good morning, AMBA.
I'm writing this from Washington, D.C., where I'll be spending the next few days at the MBA's National Advocacy Conference alongside mortgage banking professionals from across the country. Being here always reinforces something I believe deeply: the work our industry does in Alaska doesn't happen in isolation. Every conversation we have with members of Congress, every meeting with federal regulators, every trip like this one is part of a longer effort to make sure Alaska's voice is part of the national conversation on housing finance. Our state has a unique market, unique borrowers, and real challenges that deserve to be heard at the table where policy gets made.
Spring has fully arrived, and for those of us in this business, that carries a familiar kind of energy. Buyers who spent the winter deciding are starting to move. And after weeks of watching rates climb, the market got a piece of genuinely good news this week. Uncertainty hasn't disappeared -- but the direction shifted, and that matters for the conversations you're having right now.
Keep showing up for your borrowers. This week gave you something real to work with.
Benjamin Reynolds - AMBA President
Thank you to the sponsor of our Monday Morning News
Next Luncheon!
April '26 Luncheon - Hidden Risks in Every File: Fraud, Title, and Delays feat. Alyeska Title
Every transaction carries risk — and the ones you don't see coming are the most costly.
Join us April 22nd as the team from Alyeska Title pulls back the curtain on what's actually happening inside the files crossing your desk right now.
From title issues that quietly kill deals to fraud schemes actively targeting Alaska transactions, this session covers the threats that can derail a closing before you even know there's a problem. Attendees will also walk away with practical strategies to get ahead of closing delays that are becoming all too common in today's market.
Whether you're a loan officer, processor, or branch manager, this is the kind of session that pays for itself the first time you spot a red flag before it becomes a disaster.
Come ready to take notes!
Luncheon Schedule:
Doors Open at 11:30 AM
Food Served at 11:45 AM
Meeting Starts at 12:00 PM
Meeting Ends at 1:00 PM
Reminder!!!
All member companies and employees have been added and have an account created. Login using your company email and, if this is your first time logging in, select the "Forgot Password" option to update your password. If there are any issues with logging in, please contact us at [email protected] or Benjamin Reynolds at [email protected].
This Month's Meeting Sponsor:
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Virtual Meeting SPONSOR
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News From Last Week
RATES POST FIRST DROP SINCE IRAN WAR BEGAN AS CEASEFIRE SENDS YIELDS LOWER
The 30-year fixed-rate mortgage fell to 6.37% for the week ending April 9, according to Freddie Mac's Primary Mortgage Market Survey, marking the first rate decrease since the U.S. declared war on Iran in late February. The rate fell from 6.46% -- its high point so far in 2026. The 15-year fixed came in at 5.74%, down from 5.77% the prior week. One year ago, the 30-year fixed averaged 6.62%. The drop came after a two-week ceasefire was announced, sending the 10-year U.S. Treasury note yield -- a key benchmark for mortgage pricing -- down sharply, while oil prices reversed course significantly following the suspension of hostilities. Economists cautioned, however, that the ceasefire is a two-week pause rather than a permanent resolution, and the Strait of Hormuz remains a source of uncertainty. Bright MLS Chief Economist Lisa Sturtevant described the spring market as "in a holding pattern," noting that the recent weeks of rate increases have eroded buyer purchasing power even with this week's improvement.
Alaska Impact: The conflict had canceled out a brief mortgage rate decline into the fives earlier this year, sending many homebuyers to the sidelines amid concerns about rising oil prices and economic uncertainty. This week's relief, even if temporary, gives Alaska lenders a window to reconnect with buyers who pulled back since late February. Don't wait -- rates could reverse if the ceasefire unravels.
ANCHORAGE ASSEMBLY ELECTION: TWO OPEN SEATS CALLED, MIDTOWN TOO CLOSE TO CALL
Results from Tuesday's Anchorage municipal election are still being counted, but the shape of the new Assembly is beginning to come into focus. Of the six seats on the ballot, three belonged to incumbents and three were open. In early returns, all three incumbents -- Anna Brawley (West Anchorage), George Martinez (East Anchorage), and Zac Johnson (South Anchorage) -- are holding leads over their challengers. In the two open seats with clearer margins, Sydney Scout leads in North Anchorage with 55.5% of the vote, and Donald Handeland leads in Eagle River-Chugiak with 55.4%. The third open seat, District 4 Midtown, remains too close to call: Janice Park holds 4,811 votes to Dave Donley's 4,789 -- a margin of 22 votes -- with ballots still being processed. As of the 4/10 unofficial count, 62,703 of the 235,398 mailed ballots have been tabulated. Results are scheduled to be certified by the Assembly on April 28.
On the proposition side, voters narrowly rejected two school-related measures in early returns: the $79 million ASD Capital Improvements Bond is trailing by 731 votes (48.70% yes), and the $12 million ASD operational tax levy is trailing by 566 votes (48.88% yes). Both outcomes could shift as additional ballots are counted. Several infrastructure bonds are currently passing, including $38 million for roads and drainage (60% yes) and fire protection bonds (64% yes).
Alaska Impact: The Assembly's composition directly affects housing development decisions, land use approvals, and property tax levels in Anchorage -- all of which touch every member's clients and business. The rejection of additional school district funding, if it holds, removes a potential property tax impact from homeowners' balance sheets. Watch for the District 4 outcome: a 22-vote margin is well within recount range, and the certification process runs through April 28. These are unofficial results.
MBA: MORTGAGE CREDIT AVAILABILITY REACHES HIGHEST LEVEL SINCE AUGUST 2022
Mortgage credit availability increased 1.1% in March to a reading of 108.3, its highest level since August 2022, according to MBA's Mortgage Credit Availability Index using ICE Mortgage Technology data. The jumbo index rose for the third consecutive month, driven by expanded availability of non-QM loan programs. Streamline refinance programs also widened for lower credit score borrowers, according to the MBA. Joel Kan, MBA's Deputy Chief Economist, said the gains reflect lenders positioning for potential refinance opportunities as rates continue to fluctuate, though overall credit supply remains below its historical range.
Alaska Impact: Alaska borrowers who have been shut out of conventional programs -- self-employed workers, seasonal earners, and rural property buyers -- may find more options as non-QM availability continues to expand. If the ceasefire holds and rates trend lower, the expanded streamline refi programs could also become active tools for members with existing borrowers sitting in rates from the past two years.
MBA APPLICATION SLIDE SLOWS SHARPLY; PURCHASE DEMAND STABILIZES WEEK-OVER-WEEK
Mortgage applications declined just 0.8% on a seasonally adjusted basis for the week ending April 3, a dramatic slowdown from the sharp declines of prior weeks. The Purchase Index rose 1% week-over-week, though purchase applications remained 7% below year-ago levels -- the first annual decline since early 2025. The Refinance Index fell 3%, dropping to its lowest level since December 2025. MBA's Joel Kan said that "ongoing economic uncertainty and higher mortgage rates continue to weigh on demand," though the stabilizing trend in purchase volume offers a more constructive read than the prior month's data. The April 9 rate drop captured by Freddie Mac was not yet reflected in this application period.
Alaska Impact: The near-halt in the application slide is a better signal than headline volume suggests. Alaska's spring market runs on its own rhythm, and members should expect some lag between national demand trends and local buyer activity. With rates now lower heading into mid-April, next week's application data should be worth watching.
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!
