NEW YORK, Feb 5, 2026, 06:37 (EST) — Premarket
- On Thursday, the average 30-year fixed conforming mortgage rate held steady at 6.096%, showing little movement from the previous day.
- MBA data revealed mortgage applications declined last week, as winter weather weighed on purchase demand.
- Shares tied to housing climbed ahead of the open, even as mortgage lender Rocket dipped.
U.S. mortgage rates held steady early Thursday. The daily average for a 30-year fixed conforming loan ticked up just 0.01 percentage point to 6.096% from the day before.
That’s crucial since borrowing costs remain elevated, sidelining many potential buyers and those looking to refinance. The market’s focus is locked on whether rates can dip below 6% and hold there long enough to revive activity in the spring selling season.
Mortgage rates usually track longer-term Treasury yields, which set benchmarks for many consumer loans. The most recent official figure showed the U.S. 10-year Treasury yield at 4.28%.
Housing-related stocks edged higher ahead of the open. The iShares U.S. Home Construction ETF climbed 3.5% to $108.74. D.R. Horton rose 2.8%, hitting $158.22, but Rocket Companies slid 1.7% to $20.00.
Mortgage News Daily’s rate index, covering top-tier conventional loans, held steady between 6.15% and 6.20% on Wednesday. Analyst Matthew Graham put it simply: “Flat bonds = flat rates.” Mortgage News Daily
Demand signals continue to fluctuate. The Mortgage Bankers Association reported an 8.9% decline in total mortgage applications last week, driven by a 14% plunge in purchase applications, as winter storm disruptions weighed on activity. “Winter Storm Fern likely had an impact…hampering homebuying activity,” said MBA economist Joel Kan. MBA
Federal Reserve Governor Lisa Cook took a cautious stance on policy Wednesday, saying it’s time to “wait and see” before cutting rates further. She called the current policy just “ever so mildly” restrictive. Reuters
Bond supply is a factor too. On Wednesday, the U.S. Treasury announced a $125 billion refunding plan and indicated it won’t raise note and bond auction sizes for several more quarters. That’s a key signal for markets since bigger issuance can weigh on bond prices and push yields higher.
Borrowers face a clear risk: if inflation concerns reignite, long-term yields could surge and lenders might tighten terms fast. January’s ISM index for prices paid in the U.S. services sector climbed, signaling that any easing in rates won’t be smooth.
Freddie Mac’s weekly survey, a key gauge of mortgage rates, will be released at noon (ET) on Thursday. It provides a more gradual snapshot of where typical mortgage offers stand.
Investors are eyeing the U.S. jobs report for January, set for release on Feb. 11 at 8:30 a.m. (ET), searching for hints about economic growth and the Fed’s upcoming decisions — which will likely influence mortgage rates heading into next week.
