Mortgage Rates Fall Below 7% as Treasury Yields Retreat
Mortgage rates moved lower again Monday, with multiple major outlets reporting the average 30-year fixed rate hovering near the 6% mark as of Feb. 23, 2026. The shift extends a recent run of declines that has brought borrowing costs to their lowest territory since 2022, offering modest relief for homebuyers and homeowners considering a refinance.
The Wall Street Journal reported the 30-year fixed rate at 6.07% on Monday. CNBC said rates had dropped below 6%, matching the lowest level since 2022. CBS News also published an updated snapshot of daily mortgage interest rates dated Feb. 23, while NerdWallet described rates as “a little lower” to start the week.
Fortune published a separate report focused on current refinance mortgage rates for Feb. 23, 2026, underscoring that the day’s move is being tracked not only by would-be buyers but also by current homeowners evaluating whether today’s pricing meaningfully changes the math on refinancing. Yahoo Finance highlighted activity on the lending side as well, reporting that Chase has rebooted its “mortgage rate sale,” applying it to both purchase loans and refinances.
The rate level matters because it can quickly change who can qualify for a mortgage and what monthly payments look like on the same home price. Even small swings in rates can widen or narrow affordability, influencing buyer demand and the pace of sales. For existing homeowners, a dip toward the low-6% range can reopen refinance conversations that were largely shut down when rates were higher, though decisions depend on individual loan terms, closing costs, and how long a borrower plans to keep the mortgage.
The latest readings also come as the market watches how long lower rates can hold. Yahoo Finance reported that Federal Reserve rate cuts remain on hold and raised the question of whether recent lows could be a floor “for now.” Separately, Realtor.com pointed to conditions that could help housing markets “unlock” more quickly if mortgage rates were to fall further, reflecting the sensitivity of both supply and demand to financing costs.
What happens next will hinge on forthcoming daily rate updates and how lenders price loans for both purchases and refinances. Borrowers can expect continued variation across lenders and products, with day-to-day changes influenced by broader financial conditions and company-specific promotions such as the renewed offer reported by Yahoo Finance.
For now, Monday’s reports show mortgage rates pressing near the 6% threshold, a notable shift that could reshape near-term decisions for buyers, sellers, and homeowners alike.
