U.S. mortgage rates dropped below 6% for the first time since 2022, easing borrowing costs amid cooling inflation and a dovish Fed.

Mortgage rates in the U.S. fell below 6% for the first time since 2022, averaging 5.9% in the week ending February 25, 2026, according to Freddie Mac. The decline, driven by cooling inflation and a more dovish Federal Reserve, could ease borrowing costs and boost home buying. However, high home prices continue to limit affordability, and market recovery depends on broader economic factors like jobs and wages.