Mortgage Rates Fall Below 6% For The First Time In Three Years

Mortgage rates drop below 6% for the first time in 3 years. The 30-year fixed-rate mortgage averaged 5.98% as of February 26, 2026. The 15-year fixed-rate mortgage averaged 5.44%. After surging past 7% in 2023, rates have steadily eased as Treasury demand has stabilized and interest rates have recently been cut by the Fed. With borrowing costs finally retreating, the mortgage market may be positioned for renewed activity.

Source: Freddie Mac, The Business Week Graphic

This graph was produced by Lucas Juery, CFA, CFPⓇ and is not intended to provide financial advice.

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