February 19, 2026Mortgage rates dropped again this week, now down to their lowest level since September of 2022. This lower rate environment is not only improving affordability for prospective homebuyers, it’s also strengthening the financial position of homeowners. 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.
- The 30-year fixed-rate mortgage averaged 6.01% as of February 19, 2026, down from last week when it averaged 6.09%. A year ago at this time, the 30-year FRM averaged 6.85%.
- The 15-year fixed-rate mortgage averaged 5.35%, down from last week when it averaged 5.44%. A year ago at this time, the 15-year FRM averaged 6.04%.
Information provided by Freddie Mac.