Average 30-Year Fixed Mortgage Rate Hits 6.01%
The average 30-year fixed-rate mortgage in the U.S. averaged 6.01%, according to the latest Primary Mortgage Market Survey released by Freddie Mac. The figure represents another low in the current market cycle. Mortgage rates are a key indicator for the housing market and broader consumer financial health.
- The current 6.01% average is significantly lower than the 6.85% rate from the same time last year and represents the lowest point for mortgage rates since September 2022. - This rate remains well below the long-term average of 7.69% recorded since 1971, but is more than double the all-time low of 2.65% seen in January 2021. - While the Federal Reserve's policies influence the economy, mortgage rates are more directly benchmarked to the yield on 10-year Treasury notes. - The drop in rates has spurred a significant increase in homeowner activity; refinance applications have more than doubled over the past year. - The housing market is showing mixed signals in response to rate changes, with national home prices up 1.1% year-over-year in January 2026, while the number of homes sold fell by 9.03%. - Housing inventory has continued to grow, with a 10% year-over-year increase in active listings in January 2026, marking 27 consecutive months of inventory gains. - Projections from both Fannie Mae and the Mortgage Bankers Association forecast that the 30-year fixed rate will likely hover in a stable range around 6.0% and 6.1% throughout 2026. - For a 15-year fixed-rate mortgage, the average rate has also fallen to 5.35%, down from 6.04% a year ago.
