MortgageCast

As of February 6, 2026, the average 30-year fixed-rate mortgage stands at 6.114% for conforming loans, according to Optimal Blue data, marking a slight increase of about 1 basis point from the prior day and 5 basis points from a week ago. Freddie Mac's weekly survey for the period ending February 5 confirms a near-identical 6.11%, up marginally from 6.10% the previous week, while 15-year fixed rates averaged 5.50%, also ticking up slightly. Other sources show minor variations: NerdWallet reports 5.96% on Friday morning, down 8 basis points daily, and Money's survey lists 6.288%. Jumbo 30-year rates average 6.389%, up from 6.324% a week prior, reflecting broader stability near 6% amid a slowing labor market signaled by ADP data.

Government-backed loans offer lower averages, providing options for eligible buyers. 30-year FHA rates are at 5.935%, down slightly from 5.940% last week; VA loans average 5.736%, up from 5.696%; USDA at 5.984%, up from 5.947%. Refinance rates differ, with Zillow data showing 6.28% for 30-year conventional refis, 5.83% for VA, and 5.94% for FHA, reviewed as of February 5. Shorter-term 15-year conventional rates range from 5.431% (Optimal Blue) to 5.50% (Freddie Mac) or 5.37% (Zillow on February 5). ARM products like 7/1 and 10/1 are around 5.786% to 5.95%, showing upticks.

Rates have hovered in the low-to-mid 6% range after peaking above 7% in January 2025, defying expectations of sharper declines post-Fed cuts in late 2024. Borrowers with strong credit and 20% down payments see the best quotes, but affordability challenges persist compared to the 2.65% historic low in 2021. Shop multiple lenders, as daily fluctuations and lender-specific offers can yield savings; for a $300,000 loan at 6%, expect about $1,799 monthly principal and interest (excluding taxes/insurance). Conflicting reports underscore averaging across sources for personalized quotes. (298 words)