What are today's mortgage interest rates: February 4, 2026?

On February 4, 2026, CBS News reported the latest mortgage interest rates, providing crucial information for homebuyers and current homeowners considering refinancing. With spring homebuying season approaching, potential buyers are encouraged to lock in current rates to safeguard against potential future increases. The average mortgage interest rate for a 30-year term stood at 5.99%, while the 15-year term rate increased slightly to 5.50% from its previous 5.37%. These rates, as reported by Zillow, indicate a period of relative stability in the mortgage market, with no Federal Reserve meetings scheduled in February to influence rate changes. This stability presents an opportune moment for buyers to explore various lenders and rate offers without the volatility that has characterized the market in recent years. For those looking to refinance, the average rate for a 30-year term was 6.56%, and for a 15-year term, it remained steady at 5.63%. While these rates offer attractive options for homeowners with rates above 7%, it is essential to consider the total closing costs and the length of time they plan to stay in their homes to ensure refinancing is financially beneficial. The article emphasizes the importance of a comprehensive cost analysis, including fees and closing costs, to fully understand the value of securing a lower rate.