Mortgage application activity edged ever-so-slightly higher last week, with the Mortgage Bankers Association (MBA) reporting an increase of 0.4% on a seasonally adjusted basis for the week ending February 20. Refi applications continue to do the heavy lifting. The Refinance Index increased 4% from the previous week and was 150% higher than the same week one year ago. Conventional refinance applications rose 5% for the week, while VA refinances jumped 26%, as rates declined to their lowest levels since September 2022. Notably, rates have moved even lower this week and have held these new multi-year lows in very stable fashion. If history is any guide, this should lead to an even higher refi index next week. Purchase demand moved lower, falling 5% on a seasonally adjusted basis, though activity remains 12% higher than the same week one year ago.  Joel Kan, MBA’s Vice President and Deputy Chief Economist, attributed the modest increase in overall activity to declining Treasury yields, which helped push the 30-year fixed rate to its lowest level in several months. The composition of activity shifted further toward refinances. The refinance share of total applications increased to 58.6% from 57.4% the prior week, while ARM share held steady at 8.2% . FHA share decreased to 16.1% , VA share rose to 18.7% , and USDA share remained unchanged at 0.4% .

February 27, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 5.99% -0.01%   5.99% 7.08% 15 Yr. Fixed 5.60% -0.01%   5.55% 6.48% 30 Yr. Jumbo 6.26% -0.01%   6.1% 7.2% Compare Mortgage Rates from Local Lenders for Feb 27, 2026 Mortgage Rates End Week at Best Levels Fri, Feb 27, 2026 1:56PM At this point, it is getting a bit repetitive to bring up "the lowest rates in more than 3 years"--something that was officially the case twice this week. If we give rates credit for stably holding these long-term lows (and we should!), then every day this week has been the best in more than 3 years. Here's the specific record: at no other time in the history of our rate index have rates begun a week at long-term lows and experienced so little volatility. There was a somewhat similar stretch of 4 days in March 2019, but rates had only hit a 2 year low at the time. On average, when rates hit ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 5.99% -0.01 0.00 15 Yr. Fixed 5.60% -0.01 0.00 30 Yr. FHA 5.62% -0.02 0.00 30 Yr. Jumbo 6.26% -0.01 0.00 7/6 SOFR ARM 5.33% -0.05 0.00 30 Yr. VA 5.64% -0.01 0.00 Updates Daily - Last Update: 2/27 Freddie Mac Rate Change Points 30 Yr. Fixed 5.98% -0.03 0.00 15 Yr. Fixed 5.44% +0.09 0.00 Updates Weekly - Last Update: 2/26 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 5.0 100.47 +0.10   95.71 100.50 UMBS 30YR 5.5 101.61 +0.06   98.11 101.64 10 YR Treasury 3.952 -0.052   3.932 4.590 Starting Out Under 4.0% Despite Hotter PPI Fri, Feb 27, 2026 9:29AM We'd already discussed the fact that PPI has fallen by the wayside as a relevant market mover for bonds despite one or two instances of relevance nearly 2 years ago when bonds were desperate for any hints of change. Today's PPI results and the ensuing bond market movement leave no doubt as to the relevance of this data. Spoiler alert: there's basically no re... (read more) MBS Price Change UMBS 4.5 98.93 +0.17 UMBS 5.0 100.48 +0.10 UMBS 5.5 101.61 +0.05 GNMA 4.5 98.84 +0.16 GNMA 5.0 100.44 +0.08 GNMA 5.5 101.30 +0.04 Pricing as of: 2/27 5:34PM EST US Treasury Yield Change 2 YR Treasury 3.383 -0.050 5 YR Treasury 3.509 -0.062 7 YR Treasury 3.709 -0.046 10 YR Treasury 3.950 -0.054 30 YR Treasury 4.621 -0.039 Pricing as of: 2/27 5:34PM EST Other News Mortgage Demand Calm Before The Storm? Fri, Feb 27, 2026 1:27PM Mortgage application activity edged ever-so-slightly higher last week, with the Mortgage Bankers Association (MBA) reporting an increase of 0.4% on a seasonally adjusted basis for the week ending February 20. Refi applications continue to do the heavy lifting. The Refinance Index increased 4% from the previous week and was 150% higher than the same we... (read more) Home Prices Still Rising, But Pace Remains Subdued Fri, Feb 27, 2026 1:10PM Home price appreciation pulled back slightly at the end of last year, according to December data from both FHFA and S&P/Cotality Case-Shiller. The reports reinforce the message that prices continued to appreciate modestly through the end of 2025. FHFA’s seasonally adjusted House Price Index shows home prices up 1.8% year-over-year in the fourth quar... (read more) Fraud, Processing, Verification Waterfall Products; Fairway and Insurance; Conv. Conforming Changes Fri, Feb 27, 2026 11:17AM Can’t you feel the anticipation building? March 5th… Trigger leads… Don’t tell me that you’ve forgotten all about it. When a borrower applies for a mortgage and their credit is pulled, that data has historically been sold as a “trigger lead” and dozens of calls are received. Starting March 5, according to the law, credit bureaus can no longer sell trigger le... (read more) Latest Video 'A focus on home affordability': Compass CEO and Rocket CEO on new strategi... February Chicago PMI comes in at 57.7, beating estimates Core wholesale prices rose 0.8% in January, much more than expected Initial jobless claims total 212,000, lower than expected Around the Web CNBC Core wholesale prices rose 0.8% in January, much more than expected Trading Economics Chicago PMI Rises to Near 4-Year High Eye on Housing Price Growth for Building Materials Slows to Start the Year Census.gov Monthly Construction Spending, December 2025 CNBC Treasury yields decline as investors await wholesale inflation reading Eye on Housing Affordability Pyramid Shows Over Half of U.S. Households Cannot Buy a $300,000 Home Reuters Fed's Goolsbee forecasts several more rate cuts this year, but not soon Reuters Fed's Miran: Four quarter-point cuts still warranted this year, no "all clear" for job market Realtor.com Bipartisan Homes for American Families Act Aims To Ban Large Investors From Buying Single-Family Homes Eye on Housing Gains for Student Housing Construction in the Last Quarter of 2025 DOL US initial jobless claims 212K vs 215K estimate Eye on Housing Home Improvement Loan Applications Moderate as Borrower Profile Gradually Ages Kansas City Fed Tenth District Manufacturing Activity Rose Slightly in February

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