❓WHAT HAPPENED: Mortgage rates have fallen to their lowest level since September 2022, which the White House says improves affordability for Americans.
👤WHO WAS INVOLVED: President Donald J. Trump, Freddie Mac, and the National Association of Realtors.
📍WHEN & WHERE: The data was released on February 19, 2026, reflecting trends across the United States housing market.
💬KEY QUOTE: “This lower rate environment is not only improving affordability for prospective homebuyers, it’s also strengthening the financial position of homeowners,” Freddie Mac stated.
🎯IMPACT: The Trump administration contends that the increased affordability, rise in home purchase applications, and a boost in housing construction signal growing confidence in the housing market.
Freddie Mac’s Primary Mortgage Market Survey (PMMS), released on Thursday, reveals that mortgage rates have dropped to their lowest levels since September 2022. The Trump White House is highlighting the falling rates as part of its affordability push, with Freddie Mac stating, “This lower rate environment is not only improving affordability for prospective homebuyers, it’s also strengthening the financial position of homeowners.”
According to the Freddie Mac data, the average 30-year fixed mortgage dropped to a multi-year low. This has driven down monthly housing payments to their most affordable levels in over two years. Meanwhile, the National Association of Realtors’ Housing Affordability Index has hit its highest level since March 2022. This marks seven straight months of improving affordability.
In addition to index data, hard data support the case for improving housing affordability. Apartment rents have declined for six straight months, reaching a four-year low. Meanwhile, 62 percent of homebuyers were able to purchase at a discount compared to the original listing price in 2025. Consequently, the number of Americans filing refinancing applications has jumped 132 percent, and home purchase applications are up nearly 10 percent compared to last year. Even on the construction front, the White House contends that the economic environment is improving, citing housing starts at a five-month high.
The White House points to President Donald J. Trump’s decision to order Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities as one of the primary drivers of the decline in borrowing costs. Additionally, the administration is highlighting President Trump’s move to restrict large institutional investors from purchasing single-family homes.
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