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  • Single Family Market Update: Rates at 6.01%, Refi Surge, Builder Financing Improves, Rent Growth Compresses (2026.02.23)

    Single Family Market Update: Rates at 6.01%, Refi Surge, Builder Financing Improves, Rent Growth Compresses (2026.02.23)
    Feb 24 2026
    • Mortgage rates fell to 6.01%, down eight basis points week-over-week and lowest since early January
    • Refinance applications jumped 7% weekly and are up 132% year-over-year, signaling active borrower response near 6%
    • Purchase applications dipped modestly while VA purchase activity rose
    • Refinance window open for DSCR and bridge loans originated at higher 2023–2024 rates
    • Single-family housing starts declined 6.9% year-over-year in 2025, reflecting continued construction pullback
    • Builder confidence slipped to 36, while share of builders cutting prices declined month-over-month
    • Acquisition, development, and construction loan rates fell to 7.61% in Q4, lowest since 2022
    • Builder financing costs improving even as sentiment softens, creating selective competition in builder-heavy markets
    • Housing inventory rising into spring with price reductions still elevated relative to historical norms
    • Single-family rent growth slowed to 2.7% year-over-year, with affordability improving to four-year highs
    • Rental yield compression tightening DSCR underwriting and limiting BRRRR refinance upside
    • Construction wage growth stabilizing alongside lower financing costs, improving cost structure for ground-up and heavy rehab projects
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    8 Min.
  • Single Family Market Update: Rates Hit 6.01%, Refi Window Opens, Builder Costs Improve, Rent Growth Slows (2026.02.21)

    Single Family Market Update: Rates Hit 6.01%, Refi Window Opens, Builder Costs Improve, Rent Growth Slows (2026.02.21)
    Feb 21 2026
    • Mortgage rates fell to 6.01%, lowest level since early January and near three-year lows
    • Refinance applications jumped 7% week-over-week and are up 132% year-over-year, signaling active borrower response
    • Purchase applications declined modestly, though VA purchase activity rose
    • Current rate environment presents refinance opportunity for DSCR and bridge loans originated at higher 2023–2024 rates
    • Single-family housing starts declined 6.9% year-over-year in 2025, reflecting continued builder pullback
    • Builder confidence slipped again, though share of builders cutting prices declined month-over-month
    • Acquisition, development, and construction loan rates dropped to 7.61% in Q4, lowest since 2022
    • Builder financing costs improving even as sentiment remains soft, creating selective competition in builder-heavy markets
    • Housing inventory continues building into spring while price reductions remain elevated
    • Single-family rent growth slowed to 2.7% year-over-year, with rent affordability improving to four-year highs
    • Rental yield compression tightening DSCR underwriting and reducing margin for BRRRR refinance assumptions
    • Construction wage growth stabilizing alongside lower financing costs, improving cost structure for ground-up and heavy rehab projects
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    9 Min.
  • Single Family Market Update: Basel Reform, Rates Stabilize, Inventory Slows, Builders Compete on Efficiency (2026.02.16)

    Single Family Market Update: Basel Reform, Rates Stabilize, Inventory Slows, Builders Compete on Efficiency (2026.02.16)
    Feb 17 2026
    • Federal Reserve Vice Chair Michelle Bowman signaled Basel capital rule changes that could bring banks back into mortgage origination and servicing
    • Bank mortgage share fell from ~60% in 2008 to 35% by 2023, while nonbanks gained dominance in investor lending
    • Proposed changes to mortgage servicing asset treatment and LTV-based capital rules could increase bank competition in DSCR and rental lending in late 2026
    • Mortgage rates holding near 6.04% with spreads compressing toward historical norms, helping stabilize borrowing costs
    • Refinance activity remains elevated year-over-year while purchase applications show steady but muted demand
    • Ten-year Treasury yield testing lower end of forecast range, limiting odds of meaningful near-term rate declines
    • Active housing inventory up 8% year-over-year but growth has cooled significantly from 30%+ earlier in cycle
    • New listings rebounding seasonally while price-cut percentage declines, signaling stabilizing seller pricing power
    • Slower inventory growth suggests incremental tightening before headline data reflects it
    • Beazer Homes reached 100% Zero Energy Ready Home standard across deliveries and expanding solar-powered communities
    • Builder competition increasingly centered on operating cost savings, not just purchase price or incentives
    • Energy-efficient upgrades becoming competitive necessity in Sun Belt and builder-heavy markets
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    9 Min.