Summary
Mortgage rates in the U.S. have dropped below 6 percent for the first time in nearly four years. This is being celebrated by the White House as part of President Donald Trump's efforts to make housing more affordable. The change follows actions by both the administration and the Federal Reserve.
Key Facts
- The national average for a 30-year fixed-rate mortgage is now 5.98 percent.
- This is the first time mortgage rates have been below 6 percent since 2022.
- President Trump has aimed to lower housing costs since his return to the White House.
- The Federal Reserve's interest rate cuts towards the end of last year helped mortgage rates decrease.
- Mortgage rates nearly doubled between 2022 and 2025 due to previous rate hikes to fight inflation.
- The recent drop in mortgage rates is linked to market reactions to economic uncertainties.
- The decline in rates could increase housing demand as the spring buying season approaches.
- Despite lower rates, home prices remain high, and economic concerns continue to affect buyer confidence.
