Mortgage rates have hit their lowest level since 2022
Mortgage interest rates have dropped to their lowest level since September 2022, government-sponsored mortgage enterprise Freddie Mac reported.
The 30-year fixed rate mortgage hit 6.01% Thursday, while the 15-year fixed rate mortgage dropped to 5.35%, Freddie Mac said.
“Mortgage rates dropped again this week, now down to their lowest level since September of 2022,” said Sam Khater, Freddie Mac’s chief economist.
Even though we are only two months into 2026, this is not the first time this year that interest mortgage rates have hit a new low. Last month, mortgage rates decreased to a 3-year low.
These mortgage rate drops are great news for prospective homebuyers, as lower rates are making homeownership more affordable for those looking to enter the housing market or tap into their home’s equity through loans like a HELOC.
Thinking of taking advantage of lowest mortgage rates since 2022? Start your home loan application today.
Where are mortgage rates at?
The 30-year fixed-rate mortgage interest rate as of Feb. 19 is averaging 6.01%, while the 15-year fixed-rate mortgage interest rate is averaging 5.35%.
For the 30-year fixed-rate mortgage, this is a 0.08% drop from last week and a 0.74% drop from the same time a year ago. The 15-year fixed-rate mortgage has seen a 0.09% decrease from last week and a 0.69% drop from the same time last year.
What caused the change in mortgage rates?
The most recent mortgage rates drop came as a result of a recent drop in the 10-year Treasury yield.
While not directly tied to them, mortgage rates closely follow the 10-year Treasury yield, which reflects investors’ feelings on where economic conditions, inflation and interest rates are heading. As Treasury yields start to rise, mortgage rates tend to follow.
Last week saw the 10-year Treasury yield drop 0.125% in two days. As of Feb. 20, the yield sits at 4.029%.
Has there been an increase in purchase applications for new homes?
Yes, 2026 has seen an increase in purchase applications for new homes.
According to the Mortgage Bankers Association, January saw a 2% increase in mortgage applications for new homes compared to January of last year. Compared to the previous month, this January saw applications to purchase new homes raise 19%.
Has there been an improvement in mortgage affordability?
With the drop in rates, there has been an improvement in mortgage affordability. You can especially see this in the number of mortgage refinances.
Recently, there has been an increased number of homeowners applying for mortgage refinancing with homeowners hoping to reduce their mortgage payments.
“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,” Khater said.
How can I find current mortgage rates?
You can find current mortgage rates online through a trusted lender. Of course, these rates will just be the national average. To find out the exact rate you could qualify for, connect with a professional Loan Officer.
Loan Officers will look at your credit score, debt-to-income ratio and other factors when determining your exact rate.
One of the easiest ways to connect with a Loan Officer is by starting a mortgage application. You will be connected with a professional Loan Officer who can walk you through the application process and answer any questions you may have.
To talk with a Loan Officer and see what rates you could qualify for, begin your mortgage application.
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Refinancing your mortgage may increase costs over the term of your loan. Restrictions may apply.
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. OriginPoint does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by OriginPoint. OriginPoint, its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action..
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OriginPoint's Same-Day Mortgage (aka “FastTrack”) promotion offers qualified customers who provide certain required financial information/documentation to OriginPoint within 8 hours of locking a rate on a mortgage loan the opportunity to receive a loan approval within 1 business day of timely submission of documentation and does not suggest that the borrower will receive funding on the same day as their application submission. For purposes of this offer, documents provided after 1 pm local time or on a weekend or company holiday will be deemed submitted the next business day. OriginPoint cannot guarantee that a loan will be approved or that a closing will occur within a specific timeframe. OriginPoint reserves the right to revoke this approval at any time if there is a change in your financial condition or credit history which would impair your ability to repay this obligation. Read and understand your Loan Commitment before waiving any mortgage contingencies. Borrower documentation and Intent to Proceed must be signed within 8 business hours of receipt. Not eligible for all loan types or residence types. Minimum down payment requirements apply. Self-employed borrowers and Co-borrowers are not eligible. Not all borrowers will be approved. Borrower's interest rate will depend upon the specific characteristics of borrower's loan transaction, credit profile and other criteria. Eligible borrowers who successfully provide all required documentation within 8 business hours will receive a $250 Closing Cost Credit applied at closing, no cash value, and may not be combined with any other Lender promotions, discounts, or concessions. Not available in all states. Restrictions apply. Visit OriginPoint.com/same-day-mortgage for terms and conditions.
**Eligible borrowers must qualify for a "Clear to Close Loan Commitment" ("CTC”). OriginPoint cannot guarantee that a loan will be approved or that a closing will occur within a specific timeframe. CTC is subject to certain underwriting conditions, including clear title and no loss of appraisal waiver, amongst others. Not eligible for all loan types or residence types. Minimum down payment requirements apply. Property must be eligible for an Appraisal Waiver and borrower must opt in to AccountChek for automated income and asset verification. Self-employed borrowers and Co-borrowers are not eligible. Not all borrowers will be approved. Restrictions apply.
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact OriginPoint for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. OriginPoint LLC fka Guaranteed Rate Affinity, LLC does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by OriginPoint LLC fka Guaranteed Rate Affinity, LLC. OriginPoint LLC fka Guaranteed Rate Affinity, LLC its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. OriginPoint does not provide tax advice. Please contact your tax adviser for any tax related questions.
