The mortgage real estate investment trust (mREIT) industry is witnessing a rebound thanks to declining mortgage rates. This has resulted in improvement in purchase originations and refinancing activities.

The recent drop in mortgage rates hasn’t sparked the homebuying surge many industry experts anticipated. Instead, potential buyers are holding firm, contributing to what some analysts are calling a “buyer strike” in the housing market.

Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased and the supply of properties on the market kept rising