mortgage affordability is at a four-year high after rates fell in January, with the White House touting President Donald Trump’s economic policies and keeping his promise to “unlock” the opportunity to own a home for American families.

ICE Mortgage Technology February 2026 The report from the Mortgage Monitor showed that the mortgage rate decreased in January and opened the door to refinancing opportunities for millions of borrowers. The report said the change brought housing affordability to a four-year high, according to HousingWire.

MORTGAGE RATES ARE HIGHER BUT STILL AROUND 6%

“Joe Biden’s inflation crisis crushed the dream of home ownership for millions of Americans, but President Trump is bringing it back,” White House press secretary Karoline Leavitt told Fox News Digital. “Thanks to the president’s successful economic policies, unnecessary duct tape is being cut at a historic rate, borrowing costs are falling, and income growth is outpacing home price gains — ultimately making housing more affordable again.”

House for sale with blurred family in the background

Leavitt added, “President Trump knows that America is strongest when it is a nation of owners, not renters, and he is determined to unlock that opportunity for as many American families as possible.”

Freddie Mac’s latest prime mortgage market survey in early February showed the average benchmark 30-year fixed mortgage rate at 6.11%. The average rate for a 30-year loan was 6.89% a year ago.

“Over the past few weeks, the 30-year fixed rate mortgage has remained at its lowest level in years,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “The combination of improving affordability and the availability of homes for purchase is a positive sign for buyers and sellers heading into the spring home selling season.”

HOME LISTINGS RISE AS SELLERS FIGHT TO GET THEIR PRICE

But Realtor.com senior economist Anthony Smith said that while the Federal Reserve kept rates steady at its January meeting, it focused attention on Trump’s nomination of Kevin Warsh as next chairman of the Federal Reserve could cause uncertainty.

Smith said the nomination “has refocused attention on the importance of political credibility and investor expectations.”

Higher credit scores don’t mean more mortgage approvals, credit expert Micah Smith tells Fox News Digital. (Getty Images/Getty Images)

“Mortgage rates are not set directly by the Fed, but instead reflect long-term yields, which respond to changing economic signals, market sentiment and perceived risks. If investors grow uncertain about the Fed’s intentions or begin to question its independence, long-term yields can rise even during a rate-cutting cycle,” Smith said. “This paradox underlines the risk of mixing political objectives with monetary policy.

“For housing, this means that aggressive demands for rate cuts cannot lower mortgage rates unless market confidence in the Fed’s inflation-fighting credibility remains intact.”

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Smith also said housing affordability is benefiting from low inflation and a stable labor market, along with wage growth to increase household purchasing power.

“Whether buying a first home, moving in, or moving, American families need both stable prices and steady income growth. A Fed that is seen to be credibly fulfilling its dual mandate of price stability and maximum employment is the most durable path to better housing affordability over time,” he added.