Mortgage rates February 2026 moved slightly higher but remain close to multi-year lows.
According to data from the Zillow lender marketplace, the average 30-year fixed mortgage rate increased by one basis point to 5.77%. The 15-year fixed rate rose three basis points to 5.40%. Despite the small uptick, rates are still near the lowest levels seen in more than three years.
For eligible veterans, 15-year VA loans are averaging 4.99%, one of the lowest widely available options in today’s market.
Today’s Mortgage Rates
Here are the latest national averages:
- 30-year fixed: 5.77%
- 20-year fixed: 5.68%
- 15-year fixed: 5.40%
- 5/1 ARM: 5.95%
- 7/1 ARM: 5.82%
- 30-year VA: 5.37%
- 15-year VA: 4.99%
- 5/1 VA: 4.92%
These figures are rounded to the nearest hundredth and represent national averages. Rates vary by credit score, loan type, location, and lender.
Today’s Refinance Rates
Refinance rates are slightly higher in most categories:
- 30-year fixed: 5.94%
- 20-year fixed: 5.91%
- 15-year fixed: 5.48%
- 5/1 ARM: 6.16%
- 7/1 ARM: 6.19%
- 30-year VA: 5.49%
- 15-year VA: 5.06%
- 5/1 VA: 4.72%
Refinance rates often run higher than purchase rates, though the gap can vary by lender.
Rates Still Near Recent Lows
This week’s small increase comes after mortgage rates briefly touched 5.99% in industry tracking indexes, marking one of the lowest readings since early 2023.
Unlike the quick drop seen in early January, recent improvements have been more gradual. That steady movement suggests the bond market has been adjusting without sharp swings. However, rate direction can change quickly depending on economic data, inflation reports, or global market developments.
There is no guarantee rates will remain this low in the coming days, even in the absence of major economic news.
30-Year vs. 15-Year Mortgage
A 30-year fixed mortgage remains the most common loan option. The longer term spreads payments over 360 months, resulting in lower monthly costs. Payments remain stable because the interest rate does not change.
The trade-off is higher total interest over time. A 30-year loan usually carries a slightly higher rate than a 15-year mortgage.
A 15-year fixed loan comes with a lower interest rate and much less total interest paid. However, monthly payments are higher because the balance is paid off in half the time.
Borrowers choosing between the two should consider both monthly affordability and long-term savings.
Adjustable-Rate Mortgage Options
Adjustable-rate mortgages (ARMs) lock in a rate for an initial period such as five or seven years before adjusting annually.
In many cycles, ARMs begin with lower rates than fixed loans. However, current averages show some ARM products pricing close to or even above fixed-rate options. Borrowers considering an ARM should compare offers carefully and understand how future adjustments work.
An ARM may make sense for buyers who plan to sell or refinance before the adjustment period begins.
Why Rates Are Moving
Mortgage rates are influenced by bond market activity. When investors move into bonds during periods of stock market volatility or economic uncertainty, yields tend to fall. Lower bond yields often translate into lower mortgage rates.
At the same time, concerns that the Federal Reserve may delay future rate cuts can limit how quickly mortgage rates decline.
For now, mortgage rates February 2026 remain below 6%, giving buyers more flexibility than they had during the 7% rate environment seen in 2025.
How to Secure a Lower Rate
Borrowers seeking the lowest possible rate can:
- Improve credit scores
- Lower debt-to-income ratios
- Increase down payments
- Compare multiple lenders
- Consider discount points if staying long term
Shopping around remains one of the most effective ways to reduce borrowing costs.
Bottom Line
Mortgage rates February 2026 are slightly higher at 5.77% for a 30-year fixed loan, but they remain near multi-year lows. While small daily changes are normal, rates are still offering improved affordability compared to last year.
Buyers and homeowners considering refinancing may benefit from acting while rates remain below 6%, though future movement will depend on inflation data, Federal Reserve policy, and broader market conditions. For direct financing consultations or mortgage options for you visit 👉 Nadlan Capital Group.
