Mortgage and refinance interest rates today, February 12, 2026: Mostly unchanged

Mortgage Rates Overview - The average 30-year fixed mortgage rate is currently 5.87%, while the 15-year fixed rate averages 5.44% according to Zillow [1] - Zillow's reported rates are significantly lower than those from other sources like Freddie Mac [1] Current Mortgage Rates - National average mortgage rates include: - 30-year fixed: 5.87% - 20-year fixed: 5.80% - 15-year fixed: 5.44% - 5/1 ARM: 6.01% - 7/1 ARM: 6.00% - 30-year VA: 5.36% - 15-year VA: 4.95% - 5/1 VA: 4.93% [4] Refinance Rates - Current refinance rates are generally higher than purchase mortgage rates, but this is not always the case [3] - National average refinance rates include: - 30-year fixed: 6.05% - 20-year fixed: 6.02% - 15-year fixed: 5.52% - 5/1 ARM: 6.21% - 7/1 ARM: 6.32% - 30-year VA: 5.61% - 15-year VA: 5.40% - 5/1 VA: 5.07% [5] Mortgage Rate Mechanics - Mortgage interest rates are determined by factors that can be controlled, such as comparing lenders and improving credit scores, and factors that cannot be controlled, such as economic conditions [9][10] - A strong economy typically leads to higher mortgage rates, while a struggling economy results in lower rates to encourage borrowing [11] Mortgage Types - Fixed-rate mortgages lock in the interest rate for the entire loan term, while adjustable-rate mortgages (ARMs) have a fixed rate for an initial period before adjusting periodically [7] - 30-year fixed mortgages are popular for their lower monthly payments but incur more interest over time, whereas 15-year fixed mortgages have higher monthly payments but lower overall interest costs [12][13] Market Insights - The lowest-ever 30-year fixed mortgage rate was 2.65% in January 2021, and rates are unlikely to dip below 3% in the near future [16] - Experts suggest refinancing when a new rate is at least 1% to 2% lower than the current rate, depending on individual financial goals [17]