Mortgage Rates Drop to Lowest Level Since 2022, Handing Homebuyers More Purchasing Power
By: Dana Anderson | Published: 2026-02-23 19:05:17 | Source: www.redfin.com
The daily average mortgage rate dropped to 5.99% on February 23, the lowest level since September 2022, except for a few hours on January 9 when rates fell to the same level.
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A buyer on a $3,000 monthly budget can afford a $479,750 home with today’s mortgage rate. Compare that to the $471,750 home they could have bought at the start of this year when rates were hovering around 6.2%,…
