• Mortgage Rates Near Multi-Year Lows: Recent data shows average 30-year fixed mortgage rates trending lower (around ~6%+), improving housing affordability and prompting more refinance activity.

• Refinance Activity Rising: Refinance volume has increased, even surpassing purchase loan activity in late 2025, driven by rate declines.

• Mortgage Delinquency Concerns: The delinquency rate for mortgages increased in Q4 2025, with FHA loans seeing especially high delinquency levels — the highest in several years — indicating some borrowers are struggling to keep up with payments.

US Broader Lending & Economic Context

• Bank Lending Shifts in Korea (relevant for global sentiment): In Korea, bank mortgage lending has been decreasing while non-bank lending grows, highlighting tightening credit conditions.

• Global Real Estate Outlook includes U.S. Housing: A recent article discusses global property trends including the U.S., noting polarized markets and implications for housing affordability