US Mortgage Rates Down to 2022-Lows: MBA

2026-02-25 12:07 By Joana Taborda 1 min. read

The average contract rate on 30-year fixed-rate mortgages for conforming loans of $806,500 or less in the US fell to 6.09% in the week ended February 20th 2026, compared to 6.17% in the previous period, according to the Mortgage Bankers Association.

Borrowing costs declined for a second week to the lowest level since early September 2022.

However, mortgage applications edged up 0.4% only, following a 2.8% jump in the previous period, with refinancing applications rising 4.1% while applications to purchase a home were down 4.7%.

Although lower mortgage rates are helping to ease affordability pressures, home prices remain slightly higher than a year ago, and ongoing economic uncertainty continues to weigh heavily on consumer sentiment.



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US Mortgage Rates Down to 2022-Lows: MBA
The average contract rate on 30-year fixed-rate mortgages for conforming loans of $806,500 or less in the US fell to 6.09% in the week ended February 20th 2026, compared to 6.17% in the previous period, according to the Mortgage Bankers Association. Borrowing costs declined for a second week to the lowest level since early September 2022. However, mortgage applications edged up 0.4% only, following a 2.8% jump in the previous period, with refinancing applications rising 4.1% while applications to purchase a home were down 4.7%. Although lower mortgage rates are helping to ease affordability pressures, home prices remain slightly higher than a year ago, and ongoing economic uncertainty continues to weigh heavily on consumer sentiment.
2026-02-25
US Mortgage Rates at 4-Week Low: MBA
The average contract rate on 30-year fixed-rate mortgages for conforming loans of $806,500 or less in the US fell to 6.17% in the week ended February 13th 2026, the lowest in four weeks, compared to 6.21% in each of the previous two periods. Borrowing costs tracked Treasury yields that 'ended the week lower as weaker data on retail sales and home sales outweighed better-than-expected readings on the job market for January,” said Joel Kan, MBA’s vice president. As a result, mortgage applications jumped 2.8%, the first gain in four weeks,, with refinancing applications soaring 7.1% and increasing across all loan types. In contrast, applications to purchase a home were down 2.7%.
2026-02-18
US Mortgage Rates Steady Last Week: MBA
The average contract rate on 30-year fixed-rate mortgages for conforming loans of $806,500 or less in the US was unchanged at fell to 6.21% in the week ended January 30, compared to a four-week high of 6.24% in the previous period, according to the Mortgage Bankers Association. Mortgage applications edged down 0.3%, with purchase applications falling 2.4% while those to purchase a home went up 1.2%. “FHA purchase and refinance applications increased, helped partially by the FHA rate declining and remaining 20 basis points lower than the conforming 30-year fixed rate. Borrowers are increasingly utilizing FHA loans as affordability challenges remain, despite recent improvements”, said Joel Kan, MBA’s vice president.
2026-02-11