Average US long-term mortgage rate dips to 6.01%, lowest level in more than 3 years
#mortgage rates #Freddie Mac #30-year fixed rate #housing market #spring homebuying season #interest rates #Treasury yield #real estate
📌 Key Takeaways
- 30-year mortgage rate fell to 6.01%, lowest in over 3 years
- 15-year fixed-rate mortgage decreased to 5.35%
- Rates influenced by Federal Reserve policy and economic expectations
- Housing market remains in slump despite lower rates
📖 Full Retelling
The average long-term U.S. mortgage rate reported by Freddie Mac dipped to 6.01% this week, reaching its lowest level in more than three years as the spring homebuying season approaches, according to data released Thursday, February 19, 2026. The benchmark 30-year fixed rate mortgage fell from 6.09% last week, marking the first time the average rate has been below 6% since September 8, 2022, when it stood at 5.89%. A year ago, the rate averaged 6.85%, indicating a significant decline over the past year. The modest pullback comes as favorable news for prospective home buyers who can afford to purchase at current rates, though the housing market continues to face challenges despite lower borrowing costs. Meanwhile, the 15-year fixed-rate mortgage, popular with homeowners refinancing their loans, also decreased to 5.35% from 5.44% last week, down from 6.04% a year earlier. Mortgage rates are influenced by multiple factors including Federal Reserve interest rate policies and bond market investors' expectations for the economy and inflation, generally following the trajectory of the 10-year Treasury yield, which was at 4.08% at midday Thursday, slightly down from the previous week. Despite the recent downward trend in rates helping drive a pickup in home sales during the last four months of 2025, the housing market remains in a slump dating back to 2022 when mortgage rates began climbing from pandemic-era lows, with sales of previously occupied U.S. homes stuck at 30-year lows and posting the biggest monthly drop in nearly four years in the most recent period.
🏷️ Themes
Mortgage Rates, Housing Market, Economic Indicators
📚 Related People & Topics
Freddie Mac
American government-sponsored enterprise
The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is an American publicly traded, government-sponsored enterprise (GSE), headquartered in McLean, Virginia. The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with its sister org...
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Original Source
Average US long-term mortgage rate dips to 6.01%, lowest level in more than 3 years The average long-term U.S. mortgage rate slipped this week to its lowest level in more than three years, but remains around 6% in the same narrow range it has been in this year By ALEX VEIGA AP business writer February 19, 2026, 12:02 PM The average long-term U.S. mortgage rate slipped this week to its lowest level in more than three years, but remains around 6% in the same narrow range it has been in this year. The benchmark 30-year fixed rate mortgage rate fell to 6.01% from 6.09% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.85%. The modest pullback brings the average rate to its lowest level since Sept. 8, 2022, when it was 5.89%. That was the last time the average rate was below 6%. The recent decline in rates is a favorable lead in to the annual spring homebuying season — good news for home shoppers who can afford to buy at current rates. Meanwhile, borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also edged lower this week. That average rate fell to 5.35% from 5.44% last week. A year ago, it was at 6.04%, Freddie Mac said. Popular Reads Nancy Guthrie live updates: Man detained last week identified 34 minutes ago The mysterious Nancy Guthrie abduction: A full timeline Feb 19, 8:20 AM Nancy Guthrie case: Person released as search for 'armed individual' continues Feb 10, 11:15 PM Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. They generally follow the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans. The 10-year Treasury yield was at 4.08% at midday Thursday, down from around 4.09% a week ago. Mortgage rates have been trending lower for months, helping drive a pickup in home sales the last four months of 2025, but ...
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