Mortgage and refinance interest rates today, February 4, 2026: Annual rates are down 61 basis points

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Mortgage rates haven't moved overmuch today, which means they're inactive comparatively low. According to Zillow, the mean 30-year fixed complaint is holding astatine nether 6%, presently 5.98%. That's a year-over-year alteration of 61 ground points. The 15-year fixed complaint is 5.50%, down 73 ground points since this clip past year. Mortgage rates alteration by recognition score, location, and lender, truthful you mightiness adjacent beryllium capable to fastener successful a complaint beneath the nationalist average.

Still nether 6%: See which lenders person the champion owe rates this week.

Here are the existent owe rates, according to the latest Zillow data:

30-year fixed: 5.98%
20-year fixed: 6.06%
15-year fixed: 5.50%
5/1 ARM: 5.92%
7/1 ARM: 6.12%
30-year VA: 5.53%
15-year VA: 5.23%
5/1 VA: 5.07%

Remember, these are the nationalist averages and rounded to the nearest hundredth.

Learn astir however owe rates are determined.

These are today's owe refinance rates, according to the latest Zillow data:

30-year fixed: 6.11%
20-year fixed: 6.13%
15-year fixed: 5.68%
5/1 ARM: 6.08%
7/1 ARM: 6.53%
30-year VA: 5.58%
15-year VA: 5.51%
5/1 VA: 5.07%

Again, the numbers provided are nationalist averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates erstwhile you bargain a house, though that's not ever the case.

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Use the owe calculator beneath to spot however assorted involvement rates and indebtedness amounts volition impact your monthly payments. It besides shows however the word magnitude plays into things.

You tin bookmark the Yahoo Finance owe outgo calculator and support it useful for aboriginal use, arsenic you store for homes and lenders. You adjacent person the enactment to participate costs for backstage owe security (PMI) and homeowners' relation dues if those use to you. These details effect successful a much close monthly outgo estimation than if you simply calculated your owe main and interest.

There are 2 main advantages to a 30-year fixed mortgage: Your payments are lower, and your monthly payments are predictable.

A 30-year fixed-rate owe has comparatively debased monthly payments due to the fact that you’re spreading your repayment retired implicit a longer play of clip than with, say, a 15-year mortgage. Your payments are predictable because, dissimilar with an adjustable-rate owe (ARM), your complaint isn’t going to alteration from twelvemonth to year. Most years, the lone things that mightiness impact your monthly outgo are immoderate changes to your homeowners security oregon spot taxes.

The main disadvantage of 30-year fixed owe rates is the owe interest, some successful the abbreviated and agelong term.

A 30-year fixed-term indebtedness comes with a higher complaint than a shorter fixed-term loan. You’ll besides wage overmuch much successful involvement implicit the beingness of your indebtedness owed to some the higher complaint and the longer term.

The pros and cons of 15-year fixed owe rates are fundamentally swapped with those of 30-year rates. Yes, your monthly payments volition inactive beryllium predictable, but different vantage is that shorter presumption travel with little involvement rates. Not to mention, you’ll wage disconnected your owe 15 years sooner. So you’ll prevention perchance hundreds of thousands of dollars successful involvement implicit the people of your loan.

However, due to the fact that you’re paying disconnected the aforesaid magnitude successful fractional the time, your monthly payments volition beryllium higher than if you take a 30-year term.

Determine whether to get a 15-year vs. 30-year mortgage.

Adjustable-rate mortgages fastener successful your complaint for a predetermined period, past set it periodically. For example, with a 5/1 ARM, your complaint stays the aforesaid for the archetypal 5 years and past goes up oregon down erstwhile per twelvemonth for the remaining 25 years.

The main vantage is that the introductory complaint is usually little than what you’ll get with a 30-year fixed rate, truthful your monthly payments volition beryllium lower. (Current mean rates don't bespeak this, though — fixed rates are really lower, according to Zillow data. Talk to your lender earlier deciding betwixt a fixed oregon adjustable rate.)

With an ARM, you person nary thought what owe rates volition beryllium similar erstwhile the intro-rate play ends, truthful you hazard your complaint expanding later. This could yet extremity up costing more, and your monthly payments are unpredictable from twelvemonth to year.

But if you program to determination earlier the intro-rate play is over, you could reap the benefits of a debased complaint without risking a complaint summation down the road.

Read astir the differences betwixt adjustable-rate vs. fixed-rate mortgages.

The nationalist mean 30-year owe complaint is 5.98% close now, according to Zillow. But support successful caput that averages tin alteration depending connected wherever you live. For example, owe rates alteration by state, and if you're buying successful a metropolis with a precocious outgo of living, rates could beryllium higher.

Recently, owe rates took a dive erstwhile President Trump announced immoderate proposals to heighten location affordability and little owe rates. Then, they jumped erstwhile his propulsion for Greenland raised planetary tension. Still, according to Zillow, rates stay good a implicit a half-point little than a twelvemonth ago.

In galore ways, securing a debased owe refinance complaint is akin to erstwhile you bought your home. Try to amended your recognition people and little your debt-to-income ratio (DTI). Refinancing into a shorter word volition besides onshore you a little rate, though your monthly owe payments volition beryllium higher.

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