Mortgage interest rates have shown stability in recent weeks, presenting a favorable opportunity for homebuyers and those considering refinancing. With no Federal Reserve meetings scheduled in February that could influence rates, and delayed unemployment data, the current economic landscape suggests a level of consistency. Additionally, while inflation persists, it has maintained a stable trajectory in recent months, offering some reassurance to those navigating the mortgage market.
Encouragingly, mortgage interest rates decreased throughout 2025 and have remained consistent as 2026 begins. As of February 9, 2026, the average mortgage interest rate for a 30-year loan is 5.99%, maintaining the same level it has occupied for much of the past month. Similarly, the average rate for a 15-year mortgage stands at 5.37%, also reflecting a stable pattern seen in the early weeks of 2026. While these rates may not reach the lower levels seen in previous years, they remain competitive and fall within historical averages.
Given the current stability in mortgage rates, potential buyers are encouraged to take advantage of this moment to shop for the best rates and lenders. This approach not only allows for a clearer understanding of available options but also mitigates the risks associated with future economic fluctuations.
Turning to refinancing, the average rate for a 30-year mortgage refinancing is 6.80%, while the 15-year rate is slightly lower at 5.52%. These rates present valuable opportunities, particularly for homeowners with lower mortgage balances or those wishing to pay off their loans more quickly. Although a shorter mortgage term may result in higher monthly payments, the potential for significant interest savings and a faster path to being debt-free can be compelling advantages.
In summary, as of February 9, 2026, the mortgage landscape remains stable, with a 30-year mortgage rate averaging 5.99% and a 15-year rate at 5.37%. The refinance rates are at 6.80% for 30 years and 5.52% for 15 years, indicating a steady opportunity for homebuyers and homeowners to explore their options with less concern for imminent volatility in rates. This period of stability allows for thoughtful consideration in an evolving market.