2.65%
What was the record-low average 30-year fixed mortgage rate, set in January 2021?
The COVID-19 pandemic pushed mortgage rates to the lowest weekly average ever recorded.
Source: Bankrate, citing Freddie Mac data (2021) bankrate.com
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What is the U.S. unemployment rate as of August 2026?

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2.65%
The COVID-19 pandemic pushed mortgage rates to the lowest weekly average ever recorded.
Source: Bankrate, citing Freddie Mac data (2021) bankrate.com
about 1.75 percentage points
The Fed began easing rates in September 2024 after an aggressive hiking cycle to fight inflation.
Source: Bankrate, citing Federal Reserve data (2025) bankrate.com
about 6.39%
Shorter mortgage terms usually carry a lower interest rate than the standard 30-year loan.
Source: Bankrate bankrate.com
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