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US fixed 30-year mortgage rate falls below 6%

BY Reuters | AGENCY | 02/26/26 12:11 PM EST

WASHINGTON, Feb 26 (Reuters) - The average rate on the popular U.S. 30-year fixed-rate mortgage dropped below 6% this week for the first time in nearly 3-1/2 years, which could help to improve housing affordability.

The 30-year fixed mortgage rate averaged 5.98%, the lowest level since September 2022, from 6.01% last week, mortgage finance agency Freddie Mac said on Thursday. It averaged 6.76% during the same period a year ago.

President Donald Trump ordered the Federal Housing Finance Agency - which oversees Freddie Mac and another mortgage finance giant Fannie Mae - to purchase $200 billion of bonds issued by the two companies to help lower the cost of home loans. (Reporting By Lucia Mutikani; Editing by Chizu Nomiyama)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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