Overview
- Zillow pegs the 30-year fixed at 5.99% and the 15-year at 5.37% as of Feb. 3, with 30-year refinance medians reported around 6.63%–6.75% across Feb. 2–3.
- Other trackers show higher quotes, with Mortgage News Daily at 6.20% and HousingWire’s locked-loan average at 6.27%, highlighting variation by methodology and borrower mix.
- Mortgage pricing continues to follow the 10-year Treasury and mortgage–Treasury spreads, which have tightened episodically following a White House-directed push for Fannie Mae and Freddie Mac to buy MBS.
- Experts broadly see modest February easing that could nudge averages below 6%, though inflation readings, jobs data and bond-market swings will dictate the path.
- A larger share of homeowners now carry rates above 5%, refinance applications are up roughly 120% year over year, and ICE estimates about 5.5 million could benefit if the 30-year rate reaches 6%.