New York, February 9, 2026, 06:41 EST — Premarket
Mortgage rates in the U.S. barely budged early Monday. The 30-year fixed average stuck close to 6.23%, as investors braced for a data-heavy week likely to influence bets on Fed rate cuts.
Timing counts here. With the spring home-buying season approaching, small shifts in borrowing costs can quickly change monthly payments and the calculus for refinancing—particularly for homeowners with older loans locked in at lower rates.
Bond markets have been restless, and that’s showing up in mortgage rates. With a partial government shutdown holding back vital economic data, traders are hanging on for the next round of official figures.
On Monday morning, Bankrate’s national survey showed the average 30-year fixed mortgage rate sitting at 6.23%, while the annual percentage rate (APR)—which factors in fees—was a bit higher at 6.29%. For refinances, a 30-year fixed came in at 6.57% (6.63% APR), and the 15-year refinance rate averaged 5.90%, with an APR at 5.99%. 1
Lender “rate sheets” continued to show a broad range, depending on the borrower and how the deal is set up. Rocket Mortgage, for its part, posted a 30-year fixed at 6.375%, with an APR of 6.651% and 1.875 points due upfront, according to its site as of 11:07 a.m. UTC. 2
The 10-year Treasury yield held steady at 4.21%, after slipping earlier to 4.156%. Meanwhile, the two-year ticked up 1.5 basis points to 3.498%, according to Reuters. Traders have priced in about 58 basis points—just 0.01 percentage point—of Federal Reserve cuts by year-end. Attention is now fixed on Wednesday’s rescheduled January jobs report, with forecasts calling for 70,000 new jobs and a 4.4% unemployment rate. “The market is hyper-focused” on the labor numbers, said Scott Pike, senior portfolio manager at Income Research + Management. 3
Premarket action saw a split among rate-sensitive names. Rocket Companies slipped around 1.6%, UWM Holdings dropped sharply—down 7.7%. loanDepot moved the opposite way, adding 4.9%. Homebuilders D.R. Horton and Lennar both edged lower, each off by roughly 1%.
The path forward isn’t set. A strong inflation reading or jobs data that comes in firm could send yields up, and lenders might have to adjust rates on the fly—wiping out the mortgage rate relief seen earlier this week.
Traders this week are zeroed in on January’s nonfarm payrolls, which will finally land Wednesday, along with Friday’s CPI data for the same month. Fed speakers are also on the radar, as markets comb for any signals about the timing of possible rate cuts. 4
