WASHINGTON, Feb 26 (Reuters) - The average rate on the popular U.S. 30-year fixed-rate mortgage dropped below 6% this week for the first time in nearly 3-1⁄2 years, which could help to improve housing affordability.
The 30-year fixed mortgage rate averaged 5.98%, the lowest level since September 2022, from 6.01% last week, mortgage finance agency Freddie Mac said on Thursday. It averaged 6.76% during the same period a year ago.
President Donald Trump ordered the Federal Housing Finance Agency - which oversees Freddie Mac and another mortgage finance giant Fannie Mae - to purchase $200 billion of bonds issued by the two companies to help lower the cost of home loans.

- The average rate for a 30-year fixed mortgage in the U.S. has fallen below 6% for the first time in over three and a half years, potentially improving housing affordability.  
- According to Freddie Mac's report, the average rate is now 5.98%, down from 6.01% last week and significantly lower than the 6.76% of a year ago.  
- President Donald Trump has directed the Federal Housing Finance Agency to purchase $200 billion in bonds issued by Freddie Mac and Fannie Mae to help reduce mortgage costs.

US fixed 30-year mortgage rate falls below 6%