30-Year Mortgage Rates Dip to 6.09%, Boosting Housing Affordability
Event summary
- Freddie Mac's Primary Mortgage Market Survey® shows the 30-year fixed-rate mortgage (FRM) averaged 6.09% as of February 12, 2026, down from 6.11% last week and 6.87% a year ago.
- The 15-year FRM averaged 5.44%, down from 5.50% last week and 6.09% a year ago.
- Sam Khater, Freddie Mac’s Chief Economist, attributes the rate decline to strong economic growth and a solid labor market, driving higher purchase application activity.
The big picture
The slight decline in mortgage rates comes amid a broader context of improving housing affordability, driven by robust economic conditions. This trend could signal a shift in the housing market dynamics, potentially benefiting both buyers and lenders. Freddie Mac's role in promoting liquidity and stability in the housing market underscores the strategic importance of these rate adjustments.
What we're watching
- Market Response
- How sustained lower mortgage rates will affect homebuyer demand and housing market activity.
- Economic Indicators
- Whether strong economic growth and labor market conditions will continue to support housing affordability.
- Policy Impact
- The pace at which regulatory or monetary policy changes could influence future mortgage rate trends.
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