MortgageCast

As of February 27, 2026, the average 30-year fixed-rate conforming mortgage rate in the U.S. stands at 5.964%, up 2 basis points from the previous day, while refinance rates for the same term average 6.08% according to Zillow data. Shorter-term options show the 15-year fixed conforming rate at 5.291%, down 1 basis point, and refinance at 5.42%. These figures reflect data from Optimal Blue (for purchase loans locked as of February 25) and Zillow (reviewed as of February 26), indicating slight daily fluctuations amid a broader weekly decline across most categories.

Jumbo, FHA, and VA loans present varied options for specific borrowers. The 30-year jumbo conforming rate is 6.192% (up 5 basis points daily), while refinance jumbo stands higher at 7.75%. FHA 30-year rates average 5.881% for purchase (up 5 basis points) and 5.63% for refinance, appealing to those with lower credit scores due to government insurance. VA 30-year loans, available to military members and veterans with no down payment minimum, are at 5.638% for purchase (up 2 basis points) and 5.91% for refinance. Week-over-week, these rates have dipped: 30-year conventional by 5 basis points, FHA by 8, and USDA by 12.

Recent Federal Reserve actions, including holding the federal funds rate at 3.50%-3.75% after January's meeting, have kept rates from falling sharply despite 2025 cuts, with many homeowners locked into sub-6% loans from earlier lows. For a $300,000 30-year loan at 5.964%, total interest would approximate $345,020 over the term, versus $135,259 for 15 years at 5.291%. Rates remain above pandemic-era 2-3% levels but offer relief from 2024's 7% highs; shop multiple lenders as individual quotes vary by credit and location.