At a Glance:

• Buyer activity strengthened in mid-January as purchase applications rose from the prior week and exceeded last year’s levels.
• New listings and overall inventory continue to expand, giving buyers more options.
• Refinancing activity is rising as homeowners take advantage of a steadier rate environment.
• Early 2026 is showing healthier momentum than much of last year.

Early January brought a clear rise in mortgage activity, signaling renewed movement from both buyers and homeowners. According to the Mortgage Bankers Association, total mortgage applications increased 14.1% during the second week of January compared to the previous week.¹ Purchase applications were 18% higher than the same week last year.² 

December ended on a softer note, with pending home sales falling 9.3% from the prior month and 3% year over year.³ However, early January application data suggests that buyer interest has begun to rebound as 2026 gets underway. More homes are also coming to market, and total inventory remains higher than it was a year ago.⁴

As of January 26, 2026, the average 30-year conforming mortgage rate is holding near 6.06%, supporting a more predictable environment for buyers entering the new year.⁵

More Homebuyers Are Proceeding with Their Purchases

More buyers are stepping back into the market. For the week ending January 16, home purchase applications increased 5% from the week before and remained well above last year’s levels.⁶

Improving inventory and a steadier rate environment are also supporting regional trends across the Southeast, where buyer activity has picked up meaningfully since late 2025.

“Across our Georgia markets, we’re seeing more buyers re-engage after sitting on the sidelines last year,” said Steve Copeland, Senior Vice President and Regional Sales Manager for Ameris Bank’s mortgage division. “Steadier rates and more choices have boosted buyer confidence heading into the new year.”

Refinancing Activity Continues to Rise

With rates stabilizing, more homeowners are finding it worthwhile to revisit refinancing options. MBA data shows that refinance applications increased 20% from the previous week and were 118% higher than the same week a year ago.⁷ Homeowners continue to use refinancing as a tool to reduce monthly payments, manage long term interest costs, or access home equity for other financial needs.

Spring Shapes Up to Be a Promising Season

Although spring doesn’t officially begin until March, the market is already showing early signs of seasonal lift. For the week ending January 19, new listings increased 29% from the previous week and 9.7% compared to last year.⁸ 

Overall housing inventory is also growing, up 10.5% from a year ago.⁹

“The rise in inventory points to a more favorable market environment as spring approaches, offering hope to those eager to make a move,” said Copeland.

Insights for the Week Ahead

Expectations are that rates will remain unchanged at the upcoming Federal Reserve meeting.¹⁰ A steady rate backdrop continues to support buyer confidence as the market moves toward spring.

Inflation continues to move mostly in line with expectations, according to the latest PCE report showing modest month-over-month increases.¹¹

Despite a decline in December pending home sales, early-year mortgage activity and broader inventory gains suggest the housing market is gaining traction as the spring season approaches.


Sources:
^{1, 2, 6, 7} https://www.mba.org/news-and-research/newsroom/news/2026/01/21/mortgage-applications-increase-in-latest-mba-weekly-survey
³ https://www.nar.realtor/research-and-statistics/housing-statistics/pending-home-sales
^{4, 8, 9} https://www.housingwire.com/articles/2026-housing-inventory-trends/
⁵ https://www2.optimalblue.com/obmmi
¹⁰ https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html
¹¹ https://www.bea.gov/news/2026/personal-income-and-outlays-october-and-november-2025


The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Ameris Bank does not endorse nor is affiliated with the companies listed in this article.