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Mortgage Rates Drop: Experts Predict Further Declines Ahead

2/25/2026

27 5 Full Breakdown

Summary

Story summary

As of February 25, 2026, the 30-year average mortgage rate is 5.87% and the 15-year rate is 5.25%, down from a peak of 7.79% in October 2023.
Fed rate cuts and declining Treasury yields helped reduce borrowing costs.
Experts expect rates to hold or dip slightly in March.
The average refinance rate for a 30-year term is 6.28%.
Buyers should explore options and consider closing costs.

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Story summary

As of February 25, 2026, the 30-year average mortgage rate is 5.87% and the 15-year rate is 5.25%, down from a peak of 7.79% in October 2023.
Fed rate cuts and declining Treasury yields helped reduce borrowing costs.
Experts expect rates to hold or dip slightly in March.
The average refinance rate for a 30-year term is 6.28%.
Buyers should explore options and consider closing costs.