02/26/2026
This is a strong beginning to the new year!
Market Update: Mortgage rates fall to a three-and-a-half year low
The average thirty-year mortgage rate nearly broke 6% last week according to the Freddie Mac Primary Mortgage Market Survey, the lowest weekly rate reported since September 2022.
For an Indiana buyer putting a 10% down payment on a $260,000 property, this means roughly $120 a month in savings compared to the mortgage payment on the same home purchased last February, when rates were about 85 basis points higher ā a significant improvement in affordability.
Progress on rates, wage growth and slowing price appreciation will also likely bring the median house payment down to roughly 32% of household income, barely above the traditional 30% affordability threshold for a typical family. (Nationally, this measure has been above 40% since early 2023.)
