LANSING, Mich. (Michigan News Source) – U.S. mortgage rates are headed in the right direction.

Mortgage rates fell again this week, dropping to their lowest level since September 2022. According to Freddie Mac, the average 30-year fixed rate slid to 6.01% this week, down from 6.09% a week earlier.

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One year ago, the 30-year fixed averaged 6.85%.

For those holding 15-year mortgages, rates fell to 5.35%. That marks the lowest since Oct. 2024.

Mortgage rates have been trending lower for months as the Trump administration’s policies went into effect. Lower rates helped drive a pickup in home sales the last four months of 2025,