Current Mortgage Interest Rates for February 3, 2026

As of February 3, 2026, the average mortgage interest rate for a 30-year term is 5.99%, down from 6.89% a year prior, while the 15-year rate is 5.37%. Refinance rates also show improvement, with 30-year rates at 6.75% and 15-year rates at 5.62%. The decline in rates, influenced by Federal Reserve actions, presents opportunities for borrowers to secure favorable terms. Homebuyers and owners are encouraged to explore options as the current market remains more stable than in recent years.