The 30-year fixed mortgage rate stood at 6.28% on Tuesday, up from 6.22% a week earlier, according to Bankrate data reported by The Wall Street Journal.
Zillow pegged the rate lower. Its data showed the 30-year fixed averaging 5.99% for purchase loans and 6.02% for refinances as of February 10.
Fortune cited Optimal Blue figures showing a 30-year conventional rate of 6.083%, down two basis points from the prior day.
Mortgage rates remain close to their lowest levels since early 2023. Freddie Mac reported the 30-year fixed averaged 6.11% for the week ending February 5.
The 15-year fixed rate dropped to 5.57%, down nine basis points week-over-week, per Bankrate. Zillow tracked it at 5.37%.
Jumbo loans eased to 6.40%, an 11-basis-point decline from the prior week. The 5/1 ARM held steady at 5.49%.
The Federal Reserve kept its benchmark rate unchanged at 3.5%-3.75% in January after three cuts in 2025.
Chair Jerome Powell said the economy entered 2026 “on a firm footing” and current rates are appropriate. Two governors dissented, advocating another 25-basis-point cut.
The 10-year Treasury yield sits near 4.25%, down from 4.46% a year ago. The spread between Treasury yields and mortgage rates tightened to 1.8 percentage points from 2.4 points.
The Mortgage Bankers Association forecasts the 30-year rate will hover around 6% through 2026. Fannie Mae expects similar stability until year-end.
No Fed meetings are scheduled for February, reducing near-term volatility. A softening labor market could push rates lower if the Fed resumes cuts.
