Mortgage rates continued to decline in February, dipping below 6% in the last week of the month, according to Freddie Mac. The 30-year fixed-rate mortgage averaged 6.05% last month, 5 basis points (bps) lower than in January. The average 15-year rate declined only a basis point to 5.43%. Compared to 2025, the 30-year and 15-year rates are lower by 79 bps and 60 bps, respectively.
The 10-year Treasury yield, which is a key benchmark for long-term borrowing, held relatively steady for most of February with an average 4.18%, a marginal decrease of 2 bps from the previous month.
