Mortgage and refinance interest rates today, February 6, 2026: Rates may drop in response to the jobs report

Core Insights - Mortgage rates have seen minimal movement this week, with the average 30-year rate at 6.11% and the 15-year rate at 5.50%, both increasing by one basis point [1][13] - There is potential for interest rates to decrease in response to a poor job openings report, suggesting that it may be a good time for consumers to shop around for mortgage options [1] Current Mortgage Rates - The current national average mortgage rates include a 30-year fixed rate of 6.11% and a 15-year fixed rate of 5.50% [1][13] - Refinance rates are generally higher than purchase rates, although this is not always the case [3] Mortgage Rate Trends - Mortgage rates have generally fallen since the end of May and are significantly lower than a year ago, but economists do not expect drastic declines through the end of 2026 [12] - The Mortgage Bankers Association forecasts the 30-year mortgage rate to remain around 6.1% through 2026, while Fannie Mae predicts a similar rate near 6% for the next year [15] Adjustable vs Fixed Rates - Fixed-rate mortgages provide stability with a locked-in rate for the entire loan term, while adjustable-rate mortgages (ARMs) offer lower initial rates that can change after a set period [6][7] - Recent trends show that 5/1 and 7/1 ARMs have rates comparable to or higher than 30-year fixed rates, indicating the need for careful comparison when selecting mortgage options [11]