Record Contract Cancellations

Nearly 1 in 7 home sales fell apart last month — here’s why.
In this episode, Michael and Rich break down fresh data from Redfin showing a record-high 14% of home purchase agreements falling through in February. They dig into what’s driving buyer jitters, how volatile rates are shaking up contracts, why concessions are exploding, and what loan pros absolutely must do right now to keep clients confident.

What we cover:

• Why February saw a spike in canceled home sale contracts
• How rate volatility is freaking out buyers
• Whether the trend started earlier or is brand new
• What “lagging indicators” mean for March & April closings
• Job market fears + AI headlines = more nervous first‑time buyers
• What loan pros should do to stabilize client confidence
• Why staying in constant contact is mission‑critical
• Opportunities hiding inside today’s chaos

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297.

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.