Mortgage and refinance interest rates today, February 28, 2026: 30-year near multi-year low; 15-year sets new low

Mortgage Rates Overview - Current 30-year fixed mortgage rate is 5.81%, only seven basis points higher than the recent multi-year low [1] - The 15-year fixed mortgage rate has decreased to 5.32%, marking its lowest point in over three years [1] Today's Mortgage Rates - National average mortgage rates include: - 30-year fixed: 5.81% - 20-year fixed: 5.76% - 15-year fixed: 5.32% - 5/1 ARM: 5.82% - 7/1 ARM: 5.88% - 30-year VA: 5.41% - 15-year VA: 5.04% - 5/1 VA: 5.01% [4] Mortgage Refinance Rates - Current national average refinance rates are typically higher than purchase rates, but specific figures were not provided [3] Market Conditions - The current housing market is more favorable for buyers compared to the previous years, with home prices stabilizing and mortgage rates decreasing since last year [15] - The best time to buy a house is when it aligns with personal circumstances rather than trying to time the market [16] Rate Variability - Mortgage rates can vary significantly based on the source reporting them, with Zillow's rates generally lower than those from Freddie Mac due to different data collection methods [17] Future Rate Expectations - Forecasts suggest that the 30-year mortgage rate may remain around 6.10% through 2026, with predictions from Fannie Mae indicating a similar rate near 6% by the end of the year [18]