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Searching for a home to purchase isn’t always easy. And in the interest rate climate of 2023 through 2025, it wasn’t always affordable either. Thanks to decades-high inflation and a series of interest rate hikes designed to tame it, mortgage interest rates soared, and homebuyers and owners looking to refinance were stuck on the sidelines waiting for rates to come down again.
But that’s exactly what happened at the end of 2025 as rates here declined to their lowest level, on average, since 2022. And while still far from the record lows of the pandemic era, mortgage interest rates became more affordable, moving back in line with historic averages. Now, at the start of February 2026, there are multiple less expensive mortgage interest rates worth exploring again. And if buyers and owners are willing to spend some time shopping around for rates and lenders, they may be pleasantly surprised at how low their offers really are.
So, what are today’s mortgage interest rates as of February 6, 2026? That’s what we’ll detail below.
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What are today’s mortgage interest rates?
The average mortgage interest rate on a 30-year mortgage sits at 5.99% as of February 6, 2026, according to Zillow. The average mortgage interest rate on a 15-year term is now 5.37%. Both are back under 6% now after rising slightly earlier in the week.
Still, these are just averages, and if you’re a qualified borrower willing to make a large down payment (more than 20% of the sale price), you may be able to lock in an even lower rate. Consider shopping around to see what’s actually available today, and don’t hesitate to reach out to a lender directly who may be willing to offer you improved rates and terms compared to what’s listed publicly.
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What are today’s mortgage refinance rates?
The median mortgage refinance rate on a 30-year mortgage is 6.53% as of February 6, 2026, according to Zillow. The average refi rate on a 15-year term is 5.59%. So, depending on what your current rate is and your long-term plans for the home, these rates may be low enough to justify taking action now.
While most experts recommend waiting to refinance until you can secure a mortgage rate that’s one full percentage point lower than your current one, others may benefit from the savings secured with a rate that’s even half a percentage point lower. Crunch the numbers, then, to see which group you may fall into now.
The bottom line
The average mortgage interest rate on a 30-year mortgage purchase is 5.99% as of February 6, 2026, and it’s just 5.37% for 15-year terms. The median mortgage refi rate on a 30-year term is now 6.53% and 5.59% for 15-year options. So there are definitely more affordable opportunities here now for both buyers and owners. How affordable these rates ultimately are, however, will depend on your personal financial circumstances. Consider speaking with a mortgage lender today who can answer any questions you may have and better help you determine your next steps.