What are today's mortgage interest rates: February 3, 2026?
Just under 7%. That's what the average mortgage interest rate for a 30-year term was sitting at in early February 2025. According to historic FreddieMac data, at 6.89%, there were few options available for buyers and owners hoping to refinance. But just one year later, the mortgage interest rate climate looks noticeably different. And it could improve further in 2026.
Mortgage interest rates declined gradually for much of 2025, inspired in part by consistent interest rate cutting by the Federal Reserve in the final months of the year. That left mortgage rates near 3-year lows, and it opened up multiple ways for borrowers to secure a rate under 6%. After the interest rate volatility of recent years, rates could already be low enough to justify taking action now. In addition, with no Federal Reserve meeting on the calendar this February to impact rates one way or another, now could be a good time to consider your options carefully.
So, what are today's mortgage interest rates as of February 3, 2026? Below, we'll examine everything you need to know.
See how low your current mortgage rate offers are here.
What are today's mortgage interest rates?
The average mortgage interest rate on a 30-year mortgage is 5.99%, as of February 3, 2026, according to Zillow, making it almost a full percentage point lower than it was in February 2025. The average mortgage interest rate on a 15-year mortgage is 5.37%. Both rates remained the same as they were earlier this month and identical to what they had been for most of January.
This should give homebuyers some comfort knowing that rate volatility, at least for the time being, seems to have slowed. Use this time, then, to shop for rates, terms and lenders online to establish a baseline of what's actually currently available.
Shop for mortgage rates and lenders online now.
What are today's mortgage refinance rates?
The average mortgage refinance rate on a 30-year term moved to 6.75% on February 3, 2026, according to Zillow. That's up a few basis points from where it sat in recent days. The average refi rate on a 15-year term dropped to 5.62% from 5.67%, potentially making it an attractive option for owners who want to save on interest costs and expedite their mortgage payoff timeline at the same time.
With these just being average rates, however, and with more stability here than borrowers were accustomed to in recent years, now could also be a good time for owners to explore their refinance options. And with online marketplaces, borrowers can easily compare rates, terms, lenders, fees and more all in one easy-to-use location.
The bottom line
The average mortgage interest rate on a 30-year mortgage is 5.99% as of February 3, 2026, and it's 5.37% for 15-year terms. The median refinance rate on a 30-year term, meanwhile, is now 6.75%, and it's 5.67% for 15-year options. With multiple ways to lock in a rate comfortably under 6% now, then, it may be worth revisiting your options. While these rates are far from the record lows offered at the start of the decade, they're also much improved from where they were last February. And that improvement could be the difference between buying your dream home or refinancing your current one — or not.
