Fannie Mae

Mortgage Rates: One Week Below 6 Percent, Then Back Above 7

Mortgage rates began 2025 above 7 percent as the 10-year Treasury yield rose, then briefly fell below 6 percent in Freddie Mac’s survey on February 26, 2026. The drop triggered a refinancing surge, but it did not unlock broad purchase demand for long: higher oil prices, inflation readings and a bond sell-off lifted Treasury yields and pushed the weekly Freddie Mac rate back to 7.40 percent by October 8.