30-Year Mortgage Rates Hold Near 6% as Spring Housing Season Approaches
Event summary
- 30-year fixed-rate mortgage averaged 6.11% as of February 5, 2026, up slightly from 6.10% the prior week.
- 15-year fixed-rate mortgage averaged 5.50%, up from 5.49% the prior week.
- Year-over-year, 30-year FRM down from 6.89% and 15-year FRM down from 6.05%.
- Freddie Mac's Chief Economist Sam Khater cites improving affordability and home availability as positive signs for spring sales.
The big picture
Freddie Mac's latest data shows mortgage rates stabilizing near 6%, a potential boon for the spring housing market. The slight year-over-year decline in rates, combined with improved home availability, suggests a more balanced environment for buyers and sellers. This trend could signal a shift in housing market dynamics, particularly if economic conditions remain favorable.
What we're watching
- Rate Stability
- Whether the 30-year mortgage rate can maintain its near-6% level amid broader economic conditions.
- Housing Demand
- How improving affordability and home availability will impact spring home sales.
- Economic Indicators
- The pace at which inflation and Federal Reserve policies influence long-term mortgage trends.
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