The Commercial Real Estate Alpha Site

by Emma W. Thorne, via LinkedIn News <– Click here for complete article and others

Mortgage demand surged nearly 29% last week, according to the Mortgage Bankers Association. Rates, which had been ticking downward, briefly dropped below 6% Friday when President Donald Trump said he would direct Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed bonds.

Refinance demand jumped 40%, marking a 128% increase year over year. The average contract interest rate slid from 6.25% to 6.18% — the lowest since September 2024. In December overall, U.S. previously owned home sales rose at the fastest pace in nearly three years.