Core Insights - The average rate on a 30-year fixed mortgage has decreased to 6.01% from 6.09% in the previous week, marking the lowest level in over three years [4][5] - This decline in mortgage rates is seen as a positive sign for prospective homebuyers ahead of the spring homebuying season [5] - The average rate on a 15-year fixed mortgage also fell to 5.35% from 5.44% last week, down from 6.04% a year ago [4][5] Mortgage Rate Trends - The current 30-year fixed mortgage rate of 6.01% is significantly lower than the 6.85% rate from the same period last year [4][5] - The last time the 30-year mortgage rate was below 6% was on September 8, 2022, when it averaged 5.89% [4][5] - The easing of shorter-term borrowing costs is also noted, with the 15-year fixed mortgage rate declining [4][5]
Relief for US homebuyers as mortgage rates dip to 6.01%, lowest level in over 3 years
The Times Of India·2026-02-19 17:54