Refinance Activity Surges — Is Now Your Window to Act?

Refinances made up nearly half of all mortgage originations in Q1 2026, signaling a major shift in the market. Here's what that means for California homeowners.

Something significant happened in the mortgage market this past quarter: refinances surged to nearly 47% of all residential mortgage originations — a level we haven't seen since the pandemic era. For context, refis made up only about 30% of originations throughout all of 2025.

What drove this? Relatively favorable interest rates during January and February gave many homeowners the push they needed to finally pull the trigger on a refinance. Meanwhile, home purchase activity slowed — as it typically does during winter months — which made the refi numbers stand out even more.

For California homeowners, this is an important signal. If you've been sitting on a higher interest rate from 2023 or 2024, you may not need to wait much longer for conditions to improve. Many of your neighbors are already acting.

Whether you're looking to lower your monthly payment, tap into your home equity, or shorten your loan term, now is a great time to run the numbers. Rates can shift quickly, and timing matters.

Ready to find out if a refinance makes sense for you? Contact our team today for a free, no-obligation rate review.