NEW YORK, Feb 6, 2026, 07:42 EST
- Freddie Mac’s 30-year fixed mortgage rate: 6.11% this week; 15-year: 5.50%
- Mortgage News Daily’s daily 30-year fixed rate: 6.17%, down 3 basis points on Thursday
- FEMA approved just over $11 million in expedited storm aid for three Southern states; Yum weighs options for Pizza Hut as closures near
U.S. mortgage rates stayed pinned near 6% this week, with the benchmark 30-year fixed rate barely moving in Freddie Mac’s weekly survey. A daily gauge dipped on Thursday after a run of downbeat employment data sparked a bond rally.
The timing matters for buyers and sellers heading into the spring home-sales season, when activity usually picks up. Rates are hovering around their lowest levels in more than three years, and small changes can still shift affordability.
Mortgage rates are set by lenders, not the Federal Reserve, but they often follow long-term Treasury yields. Markets are watching the labor data for clues on whether the Fed can keep easing without inflation flaring again.
Freddie Mac’s survey showed the average 30-year fixed mortgage rate edged up to 6.11% from 6.10% a week earlier, while the 15-year rate ticked to 5.50% from 5.49%. Freddie Mac chief economist Sam Khater said “the 30-year fixed-rate mortgage has remained at its lowest level in years.” Realtor.com senior economist Anthony Smith noted the move was one basis point — one-hundredth of a percentage point — and said, “Mortgage rates are not directly set by the Fed.” 1
Mortgage News Daily put its average 30-year fixed rate at 6.17% on Thursday, down 0.03 percentage point on the day. Analyst Matthew Graham wrote that “Mortgage rates are driven by bonds,” pointing to job openings and other labor reports that pulled lenders back from two-week highs, though he described the range as narrow around 6.15% to 6.20%. 2
In Freddie Mac’s survey, the 30-year rate’s recent low came three weeks ago at 6.06%, the lowest in more than three years, the Associated Press reported. The 10-year Treasury yield was around 4.21% at midday Thursday, down slightly from a week earlier, AP said, after the Fed paused rate cuts last week. 3
The Labor Department reported job openings fell to 6.5 million in December from 6.9 million in November, the fewest since September 2020. Outplacement firm Challenger, Gray & Christmas said companies announced more than 108,000 job cuts in January, and Navy Federal Credit Union chief economist Heather Long wrote: “The hiring recession isn’t going to end anytime soon.” 4
Initial claims for state unemployment benefits rose by 22,000 to 231,000 for the week ending Jan. 31, above forecasts for 211,000, the Labor Department said Thursday. Mortgage News Daily said the rise broke a run of lower-than-average readings in recent weeks. 5
Fed politics have also hovered in the background: President Donald Trump has nominated former Fed governor Kevin Warsh to succeed Chair Jerome Powell when Powell’s term ends in May. Warsh’s appointment still needs approval by the Senate Banking Committee. 6
But rates can turn fast. Next week’s U.S. payrolls report and inflation data could push Treasury yields higher, and Smith warned that doubts about the Fed’s independence can lift long-term rates even during a cutting cycle.
Elsewhere, FEMA moved to send expedited aid to three Southern states hit by a late-January winter storm, and Pizza Hut said it will close 250 U.S. restaurants in the first half as its parent company reviews the chain. 7
FEMA approved just over $11 million — $3.75 million each for Mississippi and Tennessee and $3.79 million for Louisiana — to reimburse emergency measures and sustain response operations, according to a Center Square report carried by New Orleans CityBusiness. The agency said “FEMA is sending the money upfront,” and Tennessee Gov. Bill Lee called the recovery “extremely challenging.” 8
Pizza Hut, owned by Yum Brands, plans to close 250 U.S. restaurants in the first half of the year while the company considers options including a sale, the Associated Press reported. Pizza Hut has more than 6,000 locations in the United States, and Yum CEO Chris Turner said the company “plans to complete its review this year,” but declined to add details. U.S. same-store sales — sales at restaurants open at least a year — fell 5% last year, while competitor Domino’s posted a 2.7% rise in the first nine months, AP reported. 9
