Compare current mortgage rates and calculate your monthly payment with real-time data
APR: 6.34%
Monthly Payment: $1,853/mo*
*Based on $300,000 loan
APR: 5.66%
Monthly Payment: $2,454/mo*
*Based on $300,000 loan
APR: 5.95%
Monthly Payment: $1,778/mo*
*Based on $300,000 loan
APR: 6.21%
Monthly Payment: $1,829/mo*
*Based on $300,000 loan
APR: 6.43%
Monthly Payment: $3,766/mo*
*Based on $600,000 loan
APR: 6.12%
Monthly Payment: $1,691/mo*
*Based on $300,000 loan
Get an instant estimate based on today’s rates
| Loan Type | Interest Rate | APR | Monthly Payment* | Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.28% | 6.34% | $1,853 | ↑ 0.05% |
| 20-Year Fixed | 5.94% | 6.01% | $2,134 | — |
| 15-Year Fixed | 5.57% | 5.66% | $2,454 | ↓ 0.03% |
| 10-Year Fixed | 5.52% | 5.59% | $3,211 | ↓ 0.02% |
| 30-Year FHA | 5.90% | 5.95% | $1,778 | — |
| 30-Year VA | 6.17% | 6.21% | $1,829 | ↑ 0.02% |
| 30-Year Jumbo | 6.40% | 6.43% | $3,766 | ↑ 0.04% |
| 5/1 ARM | 5.44% | 6.12% | $1,691 | ↓ 0.06% |
*Monthly payment based on $300,000 loan amount ($600,000 for Jumbo), principal and interest only
The average 30-year fixed mortgage rate is at 6.28% as of February 10, 2026, continuing its position near three-year lows. Current rates remain below the 6.5% threshold that housing economists consider a critical affordability benchmark.
- Federal Reserve Policy: The Fed is maintaining a cautious stance, with rate cuts possible by June 2026 if labor market conditions continue to soften.
- Inflation Data: Recent CPI reports show inflation moderating, which typically supports lower mortgage rates.
- Housing Market: Spring homebuying season approaches with inventory remaining tight in most markets.
- Rate Forecast: Mortgage Bankers Association (MBA) and Fannie Mae predict rates will stay between 6.0% and 6.5% throughout 2026.
Compared to one year ago when 30-year rates averaged 6.89%, today’s 6.28% rate represents a savings of 0.61%. On a $300,000 loan, this translates to approximately $110 less per month or $39,600 saved over 30 years.
Financial experts suggest considering a rate lock if you:
- Are actively shopping for a home and ready to make an offer
- Have been pre-approved and closing within 30-60 days
- See a rate that fits your budget and financial goals
- Want protection against potential rate increases
Rate Lock Tip: Most lenders offer rate locks for 30-60 days at no cost, with longer periods available for a fee.
Your credit score is one of the biggest factors affecting your rate. Here’s how it typically impacts your rate:
- 760+: Best rates available (6.28% average)
- 700-759: 0.25-0.50% higher than best rates
- 660-699: 0.50-1.00% higher than best rates
- 620-659: 1.00-1.50% higher than best rates
- Below 620: May need FHA loan or face significantly higher rates
Larger down payments typically result in lower rates:
- 20% or more: Best rates, no PMI required
- 10-19%: Competitive rates, PMI required
- 5-9%: Slightly higher rates, PMI required
- 3-4%: Conventional minimum (first-time buyers), higher rates
- 3.5%: FHA minimum, includes mortgage insurance
- Conventional: Standard loans requiring 620+ credit score
- FHA: Government-backed, 580+ credit score, lower rates but includes mortgage insurance
- VA: For veterans, no down payment required, competitive rates
- USDA: For rural properties, no down payment, competitive rates
- Jumbo: Loans above $766,550 (2026 limit), slightly higher rates
Lenders prefer DTI ratios below 43%, with the best rates going to borrowers under 36%.
Rates vary by state and even by county due to local market conditions, property taxes, and insurance costs.
- Pay down credit card balances below 30% utilization
- Make all payments on time for at least 6 months
- Don’t open new credit accounts before applying
- Check your credit report for errors and dispute them
Studies show borrowers who compare at least 3 lenders save an average of $1,200 per year. Compare:
- National banks (Chase, Bank of America, Wells Fargo)
- Online lenders (Rocket Mortgage, Better.com)
- Credit unions (often have lower rates for members)
- Local mortgage brokers (access to multiple lenders)
Paying 1% of the loan amount upfront typically reduces your rate by 0.25%. This makes sense if you plan to stay in the home for 5+ years.
- 15-year: Lower rate (5.57%), higher payment, save thousands in interest
- 30-year: Higher rate (6.28%), lower payment, more flexibility
- Consider: Your age, income stability, and financial goals
Experts predict rates will remain in the 6.0% to 6.5% range through March 2026, with potential for slight decreases if inflation data remains favorable.
By summer 2026, rates could drift toward 6.0% if the Federal Reserve cuts rates as expected. The spring homebuying season typically sees increased demand, which can put upward pressure on rates.
Most forecasts suggest rates will stabilize in the 5.75% to 6.25% range through 2027, assuming no major economic disruptions.
Mortgage rates can vary by location. Here are average 30-year fixed rates by region:
- Northeast: 6.32% (slightly higher due to property values)
- Southeast: 6.24% (competitive rates, growing markets)
- Midwest: 6.21% (lowest rates, stable markets)
- Southwest: 6.29% (moderate rates, hot markets)
- West Coast: 6.35% (higher due to expensive markets)
As of February 10, 2026, the average 30-year fixed mortgage rate is 6.28%, the 15-year fixed rate is 5.57%, and FHA loans average 5.90%. These rates can vary based on your credit score, down payment, and lender.
Most housing economists predict mortgage rates will remain between 6.0% and 6.5% throughout 2026. The Federal Reserve may cut rates if economic conditions warrant it, which could lead to slightly lower mortgage rates by mid-year. However, rates are unlikely to return to the 3-4% levels seen during the pandemic.
To qualify for the best mortgage rates, you typically need a credit score of 760 or higher. Borrowers with scores between 700-759 can still get competitive rates, usually 0.25-0.50% higher. The minimum credit score for most conventional loans is 620, while FHA loans may accept scores as low as 580.
15-year mortgage: Lower interest rate (5.57%), higher monthly payment, pay off loan faster, save significantly on interest. Best if you can afford higher payments and want to build equity quickly.
30-year mortgage: Higher interest rate (6.28%), lower monthly payment, more financial flexibility. Best if you prefer lower payments or plan to invest the difference.
According to studies by Freddie Mac, borrowers who compare rates from at least 3 lenders save an average of $1,200 per year on their mortgage. Over a 30-year loan, that’s $36,000 in savings. Even a 0.25% rate difference can save you thousands.
Interest Rate: The cost of borrowing the principal loan amount, expressed as a percentage.
APR (Annual Percentage Rate): Includes the interest rate plus other loan costs such as origination fees, discount points, and closing costs. APR gives you a more complete picture of the total cost of the loan.
Larger down payments typically result in lower interest rates because they reduce the lender’s risk. A 20% down payment usually gets you the best rates and eliminates private mortgage insurance (PMI). Down payments of 10-19% may result in slightly higher rates, and anything below 10% will likely have higher rates plus PMI.
It’s possible but not guaranteed. The Mortgage Bankers Association and Fannie Mae predict rates could approach 6.0% by late 2026 if the Federal Reserve implements expected rate cuts and inflation continues to moderate. However, unexpected economic events or stronger-than-expected inflation could keep rates above 6%.
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