Mortgage rates drop below 6%
On Feb. 26, mortgage rates reported below 6%, the lowest rate since 2022. According to Freddie Mac’s results of their Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged around 5.98%. This is a slight drop from their report on Feb. 12, of 6.09%. While the 15-year FRM averaged 5.44%, an increase from the prior week when it averaged 5.35%. This decrease is hopeful for both potential homebuyers and builders, with the housing stock increasing as well, 2026 may allow for more movement across all markets.
“For the first time in three and a half years, the 30-year fixed-rate mortgage dropped into the 5% range, falling even lower than last week’s milestone,” said Sam Khater, Freddie Mac’s Chief Economist. “This rate, combined with the improving availability of homes for sale, is meaningful and will drive more potential buyers into the market for spring homebuying season.”
Photo Credit: Freddie Mac
