The National Association of Realtors’ Pending Home Sales Index (PHSI) slipped modestly in January, easily prolonging its stay in a narrow range near all-time lows. Pending home sales decreased 0.8% month over month and were down 0.4% compared with the same time last year. While affordability conditions have improved somewhat as mortgage rates trend closer to 6%, the improvement has failed to bolster contract activity. NAR Chief Economist Lawrence Yun noted that lower rates have expanded the pool of mortgage-eligible households, potentially adding hundreds of thousands of new buyers this year. However, he cautioned that without a meaningful increase in housing supply, additional demand could simply push prices higher and renew affordability pressure. The Midwest and West posted monthly gains, while the Northeast and South declined. On a yearly basis however, the picture changes, with the South and West slightly positive and the Northeast and Midwest down from a year ago—reinforcing the fact that sales activity remains uneven and regional. Regional Breakdown (Month-Over-Month) Northeast: −5.7% Midwest: +5.0% South: −4.5% West: +4.3% Regional YoY Change Northeast: −8.3% Midwest: −3.3% South: +4.0% West: +0.3%

February 20, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.04% -0.01%   6.01% 7.08% 15 Yr. Fixed 5.60% -0.02%   5.55% 6.48% 30 Yr. Jumbo 6.28% -0.01%   6.1% 7.3% Compare Mortgage Rates from Local Lenders for Feb 20, 2026 Mortgage Rates End Week at Lows Fri, Feb 20, 2026 3:18PM Bonds dictate mortgage rates and bonds experienced a bit of volatility this morning in response to the Supreme Court ruling on tariffs. The initial impact was negative for rates with Treasury yields moving higher and the prices for mortgage-backed securities moving lower. But the reaction was well-contained and bonds ended up erasing most of it by the afternoon. In addition, bonds had improved steadily yesterday, but not so quickly that mortgage lenders updated yesterday's rate offerings. As such, the average lender had a small cushion to work with today, and it was more than enough to offset... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.04% -0.01 0.00 15 Yr. Fixed 5.60% -0.02 0.00 30 Yr. FHA 5.63% -0.02 0.00 30 Yr. Jumbo 6.28% -0.01 0.00 7/6 SOFR ARM 5.38% 0.00 0.00 30 Yr. VA 5.65% -0.02 0.00 Updates Daily - Last Update: 2/20 Freddie Mac Rate Change Points 30 Yr. Fixed 6.01% -0.08 0.00 15 Yr. Fixed 5.35% -0.09 0.00 Updates Weekly - Last Update: 2/19 Mortgage Bankers Assoc. 30 Yr. Fixed 6.17% -0.04 0.56 15 Yr. Fixed 5.50% -0.15 0.73 30 Yr. Jumbo 6.21% -0.09 0.27 Updates Weekly - Last Update: 2/18 UMBS 30YR 5.0 100.29 +0.01   95.71 100.50 UMBS 30YR 5.5 101.54 -0.01   98.11 101.64 10 YR Treasury 4.085 +0.008   3.932 4.590 Opening Salvo of Data Fails to Inspire Fri, Feb 20, 2026 9:25AM At the time of this writing, there are still a few econ reports left on deck, but the big ones are out. GDP missed big (1.4 vs 3.0), but largely for non-economic reasons. For instance, the BEA noted an entire 1% of the decline from the 4.4% reading in Q3 was due to the way it counts federal worker labor during the shutdown. Most of the rest is due to late-br... (read more) MBS Price Change UMBS 4.5 98.60 +0.06 UMBS 5.0 100.31 +0.03 UMBS 5.5 101.54 -0.01 GNMA 4.5 98.39 +0.01 GNMA 5.0 100.17 -0.01 GNMA 5.5 101.25 +0.02 Pricing as of: 2/20 6:01PM EST US Treasury Yield Change 2 YR Treasury 3.481 +0.026 5 YR Treasury 3.646 +0.012 7 YR Treasury 3.849 +0.012 10 YR Treasury 4.087 +0.011 30 YR Treasury 4.723 +0.026 Pricing as of: 2/20 6:01PM EST Other News Pending Sales Dip as Affordability Gains Fail to Spark Demand Fri, Feb 20, 2026 2:42PM The National Association of Realtors’ Pending Home Sales Index (PHSI) slipped modestly in January, easily prolonging its stay in a narrow range near all-time lows. Pending home sales decreased 0.8% month over month and were down 0.4% compared with the same time last year. While affordability conditions have improved somewhat as mortgage rates trend clos... (read more) New Home Sales Remain Near Recent Highs Fri, Feb 20, 2026 2:47PM If there's one housing market metric that paints a brighter picture than the rest, it's New Home Sales data from the Census Bureau. At 745,000, it eased slightly from an upwardly-revised annual rate of 758,000 , but was higher then the pre-revision reading of 737k, and 3.8% above December 2024’s 718,000. Fairly chunky revisions are par for the course with t... (read more) Fraud, Retention, Marketing Tools; Assessing Income; STRATMOR on Org. Structure; Non-Agency Updates Fri, Feb 20, 2026 11:55AM Mail-related check fraud never seems to go away, and the FBI reminds us that blue gel pens certainly help in reducing check fraud. “Rob, are you hearing that the increase in the popularity of artificial intelligence has led to an increase in mortgage fraud?” Yes, I have. It can be insidious… it may not show up until months or years have passed. Investors are... (read more) Latest Video Fourth-quarter U.S. GDP up just 1.4%, badly missing estimate December new home sales come in at 745k, down 1.7% from November Homebuilder stocks rise slightly on SCOTUS tariff decision S&P global U.S. services PMI comes in at 51.2 vs. 53 estimated Around the Web Marketwatch Supreme Court rejects Trump's tariffs. Here's what the president could try to use instead. CNBC Supreme Court strikes down Trump tariffs Eye on Housing U.S. Economy Ends 2025 on a Slower Note CNBC Fourth-quarter U.S. GDP up just 1.4%, badly missing estimate Census.gov Monthly New Residential Sales, December 2025 CNBC Personal loans surge amid affordability struggles: It's 'the middle-class refinancing option,' expert says S&P Global Flash PMI indicates slowest business growth for ten months BEA Personal Income and Outlays, December 2025 Federal Reserve Bowman, Opening Remarks CNBC Treasury yields little changed ahead of key inflation data release MBA Builder Application Survey Shows Mortgage Apps for New Homes Increased 2% University of Michigan Consumer Sentiment Inches Up .2% From January The Conference Board Leading Economic Index for the US declined by 0.2% in December

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