The average interest rate on the most popular 30-year fixed mortgage loan fell to 5.99%, Mortgage News Daily reports, reaching its lowest level since 2022. In February 2025, the interest rate was 6.89%.

The decline in yields is due to a combination of factors, including new uncertainty caused by tariffs, cooling inflation and economic weakness.

While rates briefly dipped into the 5% range for a few hours in January, they recovered the same day. That’s unlikely this time, according to Matthew Graham, chief operating officer of Mortgage News Daily.

 

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