US 30-year mortgage rate slips to 6% for week ended Feb 20, lowest since 2022

US 30-year fixed mortgage rates averaged 6% in the week ended February 20, down from 6.17% and hitting the lowest level since early September 2022. Mortgage Bankers Association data showed total applications up 0.4% week over week, as refinancing rose 4% and 150% year over year, while purchase applications fell 5% amid persistent affordability pressures.