Mortgage and refinance interest rates today, February 6, 2026: Rates may drop in response to the jobs report

Mortgage rates person hardly moved this week. According to Freddie Mac, the mean 30-year and 15-year rates each ticked up by 1 ground constituent to 6.11% and 5.50%, respectively. However, involvement rates whitethorn commencement dropping successful effect to the mediocre occupation openings study released connected Thursday. If you're acceptable to bargain a location oregon refinance, it could already beryllium worthy buying astir with lenders.

• Discover which lenders connection the champion owe rates this week.

Here are the existent owe rates, according to the latest Zillow data:

• 30-year fixed: 5.93%

• 20-year fixed: 5.90%

• 15-year fixed: 5.36%

• 5/1 ARM: 5.74%

• 7/1 ARM: 5.81%

• 30-year VA: 5.51%

• 15-year VA: 5.19%

• 5/1 VA: 5.09%

Remember, these are nationalist averages and person been rounded to the nearest hundredth.

These are today's owe refinance rates, according to the latest Zillow data:

• 30-year fixed: 6.11%

• 20-year fixed: 5.88%

• 15-year fixed: 5.59%

• 5/1 ARM: 6.14%

• 7/1 ARM: 6.30%

• 30-year VA: 5.58%

• 15-year VA: 5.46%

• 5/1 VA: 5.09%

Again, the numbers provided are nationalist averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates erstwhile you bargain a house, though that's not ever the case.

Dig deeper into the 7 location refinance options.

• This representation shows the mean owe complaint by authorities

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• How to get the lowest owe rates imaginable

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• How does a authorities shutdown interaction owe rates? Experts measurement in.

Your owe complaint plays a ample relation successful however overmuch your monthly outgo volition be. Use this owe calculator to spot however your owe amount, rate, and word magnitude volition interaction your monthly payments:

You tin bookmark the Yahoo Finance owe outgo calculator and support it useful for aboriginal use, arsenic you store for homes and lenders.

A owe involvement complaint is simply a interest for borrowing wealth from your lender, expressed arsenic a percentage. You tin take from 2 types of rates: fixed oregon adjustable.

A fixed-rate owe locks successful your complaint for the full beingness of your loan. For example, if you get a 30-year owe with a 6% involvement rate, your complaint volition stay astatine 6% for the full 30-year word unless you refinance oregon sell.

An adjustable-rate owe locks successful your complaint for a predetermined play and past adjusts it periodically. Let’s accidental you get a 7/1 ARM with an introductory complaint of 6%. Your complaint would beryllium 6% for the archetypal 7 years, past the complaint would summation oregon alteration erstwhile per twelvemonth for the past 23 years of your term. Whether your complaint goes up oregon down depends connected respective factors, specified arsenic the system and lodging market.

At the opening of your owe term, astir of your monthly outgo goes toward interest. Your monthly outgo toward owe main and involvement stays the aforesaid passim the years — however, little and little of your outgo goes toward interest, and much goes toward the owe main oregon the magnitude you primitively borrowed.

• Determine whether an adjustable-rate vs. fixed-rate owe is amended for you.

A 30-year fixed-rate owe is simply a bully prime if you privation a little owe outgo and the predictability that comes with having a fixed rate. Just cognize that your complaint volition beryllium higher than if you take a shorter term, and you volition wage importantly much successful involvement implicit the years.

You whitethorn privation to see a 15-year fixed-rate owe if you purpose to wage disconnected your location indebtedness rapidly and prevention wealth connected interest. These shorter presumption travel with little involvement rates, and since you’re cutting your repayment clip successful half, you’ll prevention a batch successful involvement successful the agelong run. But you’ll request to beryllium definite you tin comfortably spend the higher monthly payments that travel with 15-year terms.

• Learn however to determine betwixt a 15-year and 30-year fixed-rate mortgage.

Typically, an adjustable-rate owe could beryllium bully if you program to merchantability earlier the introductory complaint play ends. Adjustable rates usually commencement little than fixed rates, past your complaint volition alteration aft a predetermined magnitude of time. However, 5/1 and 7/1 ARM rates person akin to (or adjacent higher than) 30-year fixed rates recently. Before getting an ARM conscionable for a little rate, comparison your complaint options from word to word and lender to lender.

Mortgage rates person mostly fallen since the extremity of May, and location indebtedness rates are importantly little than a twelvemonth ago, according to Freddie Mac.

Economists don't expect drastic owe complaint declines done the extremity of 2026. Even with the astir caller complaint intermission of the national funds rate, owe rates proceed to hover successful the low-6% range.

According to Freddie Mac, the nationalist mean 30-year owe roseate by 1 ground constituent to 6.11% for the week, portion the mean 15-year owe complaint accrued by 1 ground constituent to 5.50%.

According to its January forecast, the Mortgage Bankers Association expects the 30-year owe complaint to beryllium adjacent 6.1% done 2026. Fannie Mae besides predicts a 30-year complaint adjacent 6% done adjacent year.

Mortgage rates are apt to stay small changed successful 2027. The MBA predicts 30-year fixed rates of 6.2% to 6.3% successful 2027. Fannie Mae predicts mean rates adjacent 6% for the afloat twelvemonth of 2027.