Compare Current 30-Year Mortgage Rates in February 2026
30-year mortgage rates currently average 6.10% for purchase loans and 6.46% for refinance loans.
Currently, the average 30-year fixed mortgage rate is 6.10%.
For borrowers looking to refinance their current home loan, the average 30-year refinance rate is 6.46%.
Mortgage rates fluctuate daily, and your specific rate will depend on your loan type, credit score and other factors.
Don’t know your credit score? Use LendingTree Spring to see your score and tips to improve it.
Current 30-year mortgage rates
| Loan type | Interest rate | APR |
|---|---|---|
| 30-year fixed rate | 6.06% | 6.20% |
| FHA 30-year fixed rate | 5.75% | 6.40% |
| VA 30-year fixed rate | 5.44% | 5.64% |
Average interest rates disclaimer
30-year refinance rates
| Loan type | Interest rate | APR |
|---|---|---|
| 30-year fixed rate refinance | 6.48% | 6.67% |
| FHA 30-year fixed rate refinance | 6.42% | 7.12% |
| VA 30-year fixed rate refinance | 5.78% | 6.06% |
| 30-year 5/1 ARM refinance | 5.91% | 6.15% |
Average interest rates disclaimer
How to get the best 30-year mortgage rates
While mortgage rates are heavily influenced by factors beyond your control, such as Federal Reserve policy and overall market conditions, there are still some steps you can take to snag a competitive rate.
Shop around
Shopping with three to five mortgage lenders can get you a lower rate, according to LendingTree data, which could mean thousands of dollars in savings over a 30-year term. Rates change daily, so collect your loan estimates on the same day for apples-to-apples comparisons.
Boost your credit score
Fixing your credit before applying for a mortgage may help you get a lower rate. The best rates are generally given to borrowers with a 780 credit score or higher.
Increase your down payment
Lenders often charge higher rates for low-down-payment loans due to the added default risk. By putting down more cash upfront, you could save yourself a lot of money in the long run if you’re able to secure a lower rate.
Buy mortgage points
Paying for mortgage points lowers your mortgage rate, saving you money over the life of your loan, but it means you’ll need to fork over more cash at the closing table. The cost to buy one point is generally equal to 1% of your loan amount.
Check out our list of the best mortgage lenders.
When comparing 30-year mortgage rates, it’s important to understand the difference between the interest rate and annual percentage rate (APR), as you’ll come across both numbers during the mortgage process. The interest rate represents what a lender charges you — expressed as a percentage of your loan amount — to borrow money for a home purchase. An APR also reflects your borrowing costs, but includes a more comprehensive picture of what you’ll pay to borrow money and is the main number you’ll want to focus on when comparing loan offers.
Interest rates on 15-year fixed mortgages are lower than 30-year fixed mortgage loans, since you’re paying off the loan faster. Since the loan term is shorter with a 15-year loan, the monthly payment will be higher, but you’ll pay less interest over the life of the loan. Currently, the average 15-year fixed mortgage rate is 5.14% compared to 6.10% for 30-year fixed mortgage rates.
Learn more about 15-year vs. 30-year mortgages.
Pros and cons of a 30-year mortgage
Pros
-
Your monthly payments will be lower
One of the main draws of a 30-year mortgage is lower monthly payments, since you’re repaying the loan over a longer term. -
You could qualify for a higher loan amount
Since your payments will be lower, it’s possible for you to get approved for a larger loan amount, helping you afford a more expensive home. -
You’ll have more financial wiggle room
Spreading your payments out over a longer term gives you more flexibility with your finances and helps you avoid becoming “house poor.” This way, you’ll have more money to put toward other goals, such as saving for retirement or making home improvements.
Cons
-
Your mortgage rate may be higher
Since 30-year mortgages include more risk than shorter-term mortgages, lenders typically charge higher rates. -
You’ll pay more interest over time
Since your mortgage term is stretched over a longer time period, you’ll pay more in interest than you would with a shorter-term loan. -
Your equity will grow more slowly
During the first several years of a 30-year term, a larger portion of your monthly payments go toward interest than principal, meaning it’ll take longer for you to build home equity.
A 30-year mortgage costs a small fortune in interest payments over the years. You could shorten that commitment and lower the total interest you pay by getting a 15-year mortgage, but the trade-off is typically a monthly payment that is hundreds of dollars higher than you’d have with a 30-year mortgage. That makes the 30-year mortgage a far more appealing and realistic option.
How are mortgage rates determined?
There are many factors that go into determining your mortgage rate, including your credit score, loan amount, debt-to-income (DTI) ratio and the type of property you’re financing. Mortgage rates are also impacted by the overall economy, job market and inflation. They also vary by mortgage lender, since each lender has its own risk tolerance, overhead expenses and underwriting requirements.
When will mortgage rates drop?
Mortgage rates aren’t expected to drop significantly in the immediate future. The current national mortgage rates forecast is for rates to remain elevated, which means we’re unlikely to see rates lower than 6% in 2025.
Next steps in the homebuying process
- Learn about how much house you can realistically afford with our home affordability calculator
- Estimate your monthly payments using our mortgage payment calculator
- Explore first-time homebuyer programs in your state
Frequently asked questions
There will always be some level of uncertainty when it comes to the decision to lock your mortgage rate, since rates are so volatile. Generally speaking, it’s a good idea to lock in your rate as soon as possible so you don’t get stuck with a higher rate. Keep in mind there’s a risk that rates could go down, and you’ll still be locked into the higher rate.
The monthly principal and interest payment would be about $665. This assumes a 20% down payment, and doesn’t include property taxes, homeowners insurance or HOA fees.
One of the best ways to get a lower mortgage rate is to compare offers from multiple lenders, since rates and fees vary between companies. You can also work on increasing your credit score or paying off debt before applying for a mortgage.
Yes, it’s possible to refinance a 30-year mortgage — and it can be beneficial if it helps you secure a lower rate, reduce your monthly payments or save on interest charges in the long run. Keep in mind you’ll pay refinance closing costs, which can run up to 6% of your loan amount. It’s important to calculate your break-even point, which is how long it takes for the benefits of refinancing to outweigh the costs.