FX.co ★ US 30-Year Mortgage Rate Falls Below 6%

The average rate on a 30-year fixed mortgage fell to 5.98% as of February 26, down from 6.01% the previous week, marking the lowest level since September 2022, according to Freddie Mac. “For the first time in three and a half years, the 30-year fixed-rate mortgage has slipped into the 5% range, dropping even further than last week’s milestone. This rate, combined with the improving availability of homes for sale, is significant and will draw more potential buyers into the market for the spring homebuying season,” said Sam Khater, Freddie Mac’s chief economist.