Mortgage Rates Below 6% for First Time in Nearly Four Years

There’s finally good news for prospective homeowners, as mortgage rates have dropped to a level not seen since 2022 and the Bidenflation hike.

Mortgage buyer Freddie Mac announced the news of the mortgage rate decline below 6%. Based on their Primary Mortgage Market Survey, Freddie Mac found, “This rate, combined with the improving availability of homes for sale, is meaningful and will drive more potential buyers into the market for spring homebuying season.”

This is part of the Trump administration recovery after years of increasingly awful economic and housing market news under the Biden administration. Freddie Mac released the survey results on Feb. 26, Thursday, and added the following details after celebrating this important milestone:

    •    The 30-year fixed-rate mortgage averaged 5.98% as of February 26, 2026, down from last week when it averaged 6.01%. A year ago at this time, the 30-year FRM averaged 6.76%.

    •    The 15-year fixed-rate mortgage averaged 5.44%, up from last week when it averaged 5.35%. A year ago at this time, the 15-year FRM averaged 5.94%.

It has been a difficult market for homebuyers in recent years, with the American dream of owning a house seeming increasingly impossible, for young people especially. My generation, Gen Z, often cannot afford to rent, let alone to buy. Donald Trump wants to turn that trend around.

For Our VIPs: This Date in History: A Forgotten Founder and a Pint-Sized Patriot

U.S. Treasury Secretary Scott Bessent cited declining mortgage rates in a Wednesday statement touting economic wins of the Trump administration. “Prices are coming down, mortgage rates are moving lower, consumer confidence is surpassing expectations, and tax cuts are delivering real relief,” he celebrated on X.

All of these are particularly important in a midterm election year. The economy was the number one factor in determining the outcome of the 2024 election, and it will likely be one of the top determining factors in the 2026 election. People will measure the success of the Republican Party by how much they personally are paying at the grocery store, at the gas pump, and when purchasing a home or a car.

Read Also: Experts Hope SCOTUS Will Champion Energy Independence

Besides working to bring inflation and mortgage rates down, the Trump administration has also implemented another policy to help prospective homebuyers. In January, the Trump White House announced executive action to stop massive institutional investors from buying up single-family homes. “Institutional buyers with vast resources outbid hardworking families, turning neighborhoods into investor rental portfolios instead of communities,” and that is unacceptable, the White House emphasized.

The Trump administration brought in multiple federal agencies in an effort to stop the wealthy elite businesses and billionaires from gobbling up homes that should be available to families looking to enjoy that most sacred right: private property.

It’s just one more reason to be grateful that the Trump administration has replaced the Biden administration in running this country.

Editor’s Note: Support and follow PJ Media’s coverage of the economy and other key news in this midterm election year. Join PJ Media VIP and use promo code FIGHT to get 60% off your membership.