FAQs

What is the average 30-year fixed-rate mortgage rate in February?

In February, the average 30-year fixed-rate mortgage fell to 6.84%.

What caused the decline in mortgage rates?

The decline in mortgage rates in February was attributed to a decrease in the 10-year Treasury yield, which fell to an average of 4.52%.

What are the factors influencing the housing market?

Factors influencing the housing market include mortgage rates, supply of single-family homes, inflationary pressures, and geopolitical risks.

Conclusion

Although mortgage rates declined slightly in February, they are still relatively high, impacting homebuying activity. The decrease in rates was influenced by a drop in the 10-year Treasury yield amid concerns over the U.S. economy. As the market anticipates further rate cuts by the Federal Reserve, it will be interesting to see how this affects the housing market in the coming months.