Mortgage and refinance interest rates today, February 24, 2026: Another new low (5.76% 30-year fixed)

Core Insights - Mortgage rates have reached a new low, with the average 30-year fixed rate at 5.76% and the 15-year fixed rate at 5.37%, indicating a growing number of lenders offering rates below 6% [1] Current Mortgage Rates - The current national average mortgage rates include: - 30-year fixed: 5.76% - 20-year fixed: 5.78% - 15-year fixed: 5.37% - 5/1 ARM: 5.86% - 7/1 ARM: 5.69% - 30-year VA: 5.38% - 15-year VA: 5.04% - 5/1 VA: 5.32% [6] Mortgage Refinance Rates - The current national average refinance rates are generally higher than purchase rates, reflecting the latest data [3] Comparison of Mortgage Types - 15-year mortgage rates are typically lower than 30-year rates, but monthly payments are higher due to the shorter repayment term [7] - For a $400,000 mortgage at a 30-year term with a 5.76% rate, the monthly payment is approximately $2,337, resulting in $441,260 in interest over the term. In contrast, a 15-year mortgage at a 5.36% rate would have a monthly payment of about $3,241, with total interest of $183,345 [8] Adjustable-Rate Mortgages (ARMs) - Fixed-rate mortgages lock in the interest rate from the start, while adjustable-rate mortgages (ARMs) have a fixed rate for an initial period before adjusting based on market conditions [10][11] - ARMs may start with lower rates than fixed rates, but there is a risk of rate increases after the initial period [12] Future Rate Predictions - The Mortgage Bankers Association (MBA) forecasts that the 30-year mortgage rate will be around 6.10% through 2026, while Fannie Mae predicts rates near 6% for the same period [14] - For 2027, the MBA expects rates to remain stable between 6.20% to 6.30%, with Fannie Mae also predicting average rates near 6.0% [15]