What are today's mortgage interest rates: February 5, 2026?
With the spring homebuying season just weeks away, prospective buyers may want to start exploring their mortgage rate options now. And they may be pleasantly surprised at what's actually available.
Mortgage interest rates in 2025, after all, declined by more than a full percentage point on average. They could continue to fall this year as well if certain economic conditions are met or if the Federal Reserve issues another interest rate cut (the central bank will not be meeting this month). At the same time, rates here are already more competitive than they've been in years – for buyers and owners looking to refinance. Waiting, then, not only risks adverse interest rate changes, but it could mean paying more for a home than you'd otherwise receive when competition heats up in March and April.
To better gauge the value of acting now, it helps to know where mortgage interest rates currently stand for qualified borrowers. So, what are today's mortgage interest rates, specifically, as of February 5, 2026? That's what we'll outline below.
See how low your current mortgage rate offers are here now.
What are today's mortgage interest rates?
The average mortgage interest rate on a 30-year mortgage term is 6.00% as of February 5, 2026, according to Zillow. The average mortgage rate on a 15-year term is 5.37%. With both rates under 6% now and with both remaining remarkably stable in the opening weeks of 2026, buyers may find now to be an ideal time to shop around for rates and lenders.
With no unemployment report slated for release this week and with no Fed meeting on the calendar for the month either, there are fewer items that could impact the mortgage rate climate than usual. And that could be a positive worth exploiting following the consistent volatility here in recent years.
Start exploring your current mortgage options here.
What are today's mortgage refinance rates?
The average mortgage refinance interest rate on a 30-year term is 6.67% as of February 5, 2026, according to Zillow. The average refi rate on a 15-year alternative is 5.57%. But some lenders may also offer borrowers 20-year options, which can combine the benefit of a shortened payoff timeline with a much better rate than they currently have.
Look to explore all three, then, to see which one not only fits your budget but meets your long-term homeownership goals, too. While far from the record-low rates offered at the start of the decade, today's refinance options may be low enough to support an application for some homeowners again.
The bottom line
The average mortgage interest rate on a 30-year mortgage is 6.00% as of February 5, 2026, and just 5.37% for 15-year options. The average mortgage refi rate for a 30-year term is now 6.67% and 5.57% for 15-year alternatives. With these just being averages, however, and the potential to find a rate half a percentage point to a full percentage point lower simply by shopping for lenders, borrowers may want to consider their purchase and refinance options now. Speak with a mortgage lender now who can answer your questions and help guide you through your next steps.
