On today’s Hot Sheet, Byron Lazine explored what it would take to restore housing affordability in 2026, citing Realtor.com data showing it would require 2.65% mortgage rates, 56% income growth, or a 35% drop in home prices.
He also broke down the ADP National Employment Report, which showed 41,000 private-sector jobs added in December and pay growth holding at 4.4% for job-stayers.
To wrap up, he reviewed the latest data from Mortgage Bankers Association (MBA) showing mortgage applications down 9.7% over two weeks, with purchase demand still up 10% year over year and refinance activity surging 133% as rates fell to 6.25%.
