USA: 30-Year Mortgage Rate at September 2022 Low.

The average rate on a 30-year fixed mortgage dropped to 6.01% as of February 19th, from 6.09% in the previous week to the softest level since September 2022, according to data from Freddie Mac. “Mortgage rates dropped again this week, now down to their lowest level since September of 2022. This lower rate environment is not only improving affordability for prospective homebuyers, it’s also strengthening the financial position of homeowners. Over the past year, refinance application activity has more than doubled, enabling many recent buyers to reduce their annual mortgage payments by thousands of dollars,” said Sam Khater, Freddie Mac’s chief economist.