NEW YORK, Feb 9, 2026, 05:53 EST
Mortgage rates in the U.S. hovered close to 6% Monday—Bankrate’s data pegged the average 30-year fixed at 6.23%, while 30-year fixed refinance rates hit 6.57%. 1
This spring’s homebuying rush is around the corner, and even a slight shift in rates can change monthly payments for buyers. For those eyeing a refinance, “close to 6%” doesn’t quite cut it—they’re still waiting for rates that feel truly low.
Not even hefty rate cuts would crack the affordability problem in most areas. According to a Zillow analysis highlighted by Investopedia, mortgage rates would have to drop over four percentage points for a median-income household to manage payments on an average home with a 20% down. 2
As of Feb. 9, Zillow Home Loans posted a 5.99% rate for 30-year fixed purchases and 5.375% on a 15-year fixed. The 7-year adjustable-rate mortgage came in at 5.75%, according to Zillow’s latest figures. 3
Fortune cited numbers from mortgage analytics firm Optimal Blue, showing the average 30-year fixed “conforming” mortgage rate holding at 6.098%. For loans that meet federal size guidelines, that’s the benchmark. The same data set listed jumbo rates at 6.231%, with FHA loans coming in at 5.963%. 4
Refinance rates ticked up in Fortune’s latest daily tally. According to Zillow figures cited by the outlet as of Feb. 6, the average 30-year fixed refinance rate landed at 6.24%. Twenty-year refis registered 6.12%, while the 15-year option came in at 5.51%. 5
Another gauge popped up farther north. Norada Real Estate pegged the national average 30-year fixed refinance rate at 6.49% as of Feb. 7, a drop of 9 basis points—remember, a basis point equals 0.01 percentage point—from the previous week. 6
Yahoo Finance took a similar angle, noting little movement in rates. The national average for a 30-year mortgage sat at 6.11%, with the outlet saying rates “hardly” budged during the week. Borrowers remain on the sidelines, still looking for a firmer signal. 7
Bankrate’s main rate table put the average 30-year fixed mortgage APR at 6.29%, with the 30-year refinance APR at 6.63%. Melissa Cohn at William Raveis Mortgage flagged that softer jobs numbers “could open the door” for a Federal Reserve rate cut sooner than markets anticipate. Michael Fratantoni, chief economist for the Mortgage Bankers Association, pegged 30-year conforming loan rates in the “6% and 6.5%” range. 8
The catch? If yields head higher, mortgage rates could follow suit—even if the Fed stands pat. “A meaningful sub-4% 10-year U.S. Treasury yield” isn’t on the horizon, says Chris Brigati, chief investment officer at SWBC, in comments to Reuters. That outlook points to mortgage rates sticking above 6%. 9
Refinancing isn’t just about snagging a lower rate—fees play a big role, too. According to Zillow’s refinance guide, closing costs usually range from 2% to 6% of your home’s principal balance. Zillow also spells out APR: that’s your interest rate, plus extras like discount points stacked on top. 10
Not much movement week over week. Fortune’s Feb. 6 refi update showed the average 30-year fixed refinance rate at 6.28%, using Zillow data current as of Feb. 5 — which is roughly where the rate stands now. The piece also cited a typical rule: refinancing tends to pay off only if the new rate is about a full point below your previous one. 11
Right now, daily figures aren’t showing much change. Borrowing costs sit below last year’s levels, but there’s no sharp move down. Without more decisive news on inflation, the labor market, or how long-term yields shake out, “mortgage rates today” are likely to stick close to “mortgage rates yesterday.”
