US Mortgage Rates Steady at 2022-Lows: MBA

2026-03-04 12:05 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 was unchanged at 2022-lows of 6.09% in the week ended February 27th 2026, the same as in the previous week, according to the Mortgage Bankers Association.

Mortgage applications soared 11%, following a 0.4% rise in the previous period, with refinancing applications jumping 14.3% while applications to purchase a home were up 6.1%.

“Refinance applications increased for the fourth straight week to the strongest pace since 2022, with conventional refinances up 20%.

The increase in the average loan size for refinances indicates that more borrowers with larger loan sizes are seeking to lower their monthly payments”, said Joel Kan, an MBA analyst.



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