For the week of February 17, 2026

“I always wanted to be somebody, but now I realize I should have been more specific.”—Lily Tomlin, American actress and comedian

Inventory continues to trend higher. Weekly Housing Trends report shows active listings remain above last year’s levels, giving buyers more options as the market moves closer to spring.

Buyer activity is holding steady. Mortgage applications remain active compared to early last year, signaling that motivated buyers are continuing to engage despite typical seasonal slowdowns.

FINDING ITS FOOTING…Markets fluctuated throughout the week as traders weighed fresh inflation data and upcoming Federal Reserve signals. Major indexes finished mixed but remained near recent highs.

Some caution came from inflation readings that showed progress but not enough to eliminate uncertainty about the timing of future policy moves. Investors continue watching economic data closely.

The broader economy remains resilient. Consumer spending has held firm and jobless claims remain low, reinforcing confidence as housing activity gradually builds toward spring.

The week ended with the Dow down 1.2%, to 49,452; the S&P 500 down 1.4%, to 6,833; and the Nasdaq down 2.1%, to 22,597.

Bond prices strengthened overall, with the 30-Year UMBS 5.0% up approximately an eighth of a point for the week, as Treasury yields moved lower following CPI data. Freddie Mac reported minimal movement in the national average 30-year fixed mortgage rate.

DID YOU KNOW…February is when new listings begin to ramp up ahead of peak spring activity, meaning selection often improves before competition does.

HOUSING DATA, RETAIL SALES, BUILDER SENTIMENT…This week brings key updates on Housing Starts and Building Permits, which offer insight into future construction activity and builder confidence heading into spring. Economists will also be watching Existing Home Sales for signs that buyer demand remains steady as inventory improves. Retail Sales and Consumer Sentiment reports will help gauge household confidence, an important driver of housing activity as we move deeper into the first quarter.

Markets continue to expect policymakers to hold steady in the near term while evaluating inflation and labor trends. Attention remains focused on upcoming economic reports for further direction. Note: In the lower chart, the 7.9% probability of change is a 92.1% probability the rate will stay the same. Current rate is 3.50%–3.75%.

Probability of change from current policy:

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