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All • Buying • Selling • February 19, 2026

Mortgage Rates Drop

by Rodney Ward

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.01%.

“Mortgage rates dropped again this week, now down to their lowest level since September of 2022,” said Sam Khater, Freddie Mac’s Chief Economist. “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 FRM 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 FRM 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%.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.

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