Mortgage and refinance interest rates today, February 7, 2026: Back under 6%

Core Insights - The average 30-year fixed mortgage rate is currently at 5.95%, having recently dropped from above 6% earlier in the week [1][18] - Government-backed mortgages, such as VA loans, offer even lower rates, with the average 30-year VA loan at 5.48% [1][5] - Mortgage rates are expected to remain relatively stable, with forecasts suggesting a 30-year rate near 6.1% through 2026 [19] Current Mortgage Rates - Current national average mortgage rates include: - 30-year fixed: 5.95% - 20-year fixed: 5.99% - 15-year fixed: 5.43% - 5/1 ARM: 5.93% - 7/1 ARM: 5.95% - 30-year VA: 5.48% - 15-year VA: 5.18% - 5/1 VA: 4.94% [5] Mortgage Refinance Rates - Today's national average mortgage refinance rates are generally higher than purchase rates, although this is not always the case [3] Market Conditions - The current housing market is more favorable for buyers compared to the previous years, with home prices stabilizing and mortgage rates dropping since last year [16] - The best time to buy a house is when it aligns with individual circumstances rather than trying to time the market [17] Variability in Mortgage Rates - Mortgage rates can vary significantly based on the source reporting them, as different organizations compile rates using different methodologies [18] - Factors influencing mortgage rates include state, ZIP code, lender, and loan type, emphasizing the importance of shopping around [18] Future Rate Expectations - Overall, mortgage rates have been gradually decreasing since May of the previous year, with the 30-year fixed rate peaking over 7% in January 2025 before declining [20]