Average long-term mortgage rate falls below 6% in time for spring home-buying season
The Guardian World
by Associated PressFebruary 26, 2026
AI-Generated Deep Dive Summary
The average long-term US mortgage rate dropped below 6% for the first time since late 2022, marking a significant development as the spring home-buying season begins. The benchmark 30-year fixed mortgage rate fell to 5.98% from 6.01% last week, according to Freddie Mac, a leading mortgage buyer. This decline is particularly noteworthy compared to this time last year when rates averaged 6.76%. The decrease in mortgage rates is expected to boost housing market activity, offering relief to potential buyers and providing a much-needed lift to the real estate sector.
The dip in mortgage rates can be attributed to broader economic factors, including shifts in Federal Reserve policy and inflation trends. Over the past year, rising interest rates had made borrowing more expensive, but recent easing has provided some respite for home shoppers. Experts suggest that this drop could signal a potential shift in monetary policy, as central banks assess the impact of higher rates on economic growth.
For buyers and sellers alike, lower mortgage rates mean greater affordability
Verticals
worldpolitics
Originally published on The Guardian World on 2/26/2026