Mortgage activity remained resilient as purchase demand strengthened, despite interest rates climbing, according to Optimal Blue’s March 2026 Market Advantage report, released on Tuesday.

Total rate-lock volume increased 13% from February and 26% from a year earlier. Purchase activity drove the gains, with purchase lock volume rising 38% month over month and 20% year over year.

Refinance activity was mixed. Cash-out refinance volume rose 9% from February and 21% from March 2025, while rate-and-term refinance volume fell 34% month over month but remained more than 66% higher than a year ago. Refinance share accounted for 28% of total production details ⇒

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