US fixed 30-year mortgage rate falls below 6%

-6.78%

FEDERAL HOME LOAN MORTGAGE CORP

FMCC

5.64

-6.78%

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.

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.