Today’s Mortgage Rates, Feb 10, 2026: Rates Holding Below 6% Boost Affordability

Here's the good news for anyone thinking about buying a home or refinancing their current mortgage: today, February 10, 2026, mortgage rates are continuing to offer a welcome sense of stability, with the most sought-after 30-year fixed mortgage rate holding just below the significant 6% mark.

According to the latest data from Zillow, this key benchmark rate is currently sitting at 5.91%. This is a critically important point because it means a considerable portion of the market is enjoying rates that make homeownership more accessible and refinancing a much more attractive option than it has been in recent times.

Today's Mortgage Rates, Feb 10, 2026: Rates Holding Below 6% Boost Affordability

What the Numbers Tell Us Today:

Let's break down what Zillow is reporting for us today. Knowing these figures can really help you understand where you stand and what options might be best for your situation.

Here's a quick rundown:

• 30-year fixed: 5.91% (This is the most common type of mortgage, offering predictable monthly payments for the entire life of the loan.)
• 20-year fixed: 5.95% (A good middle ground for those who want to pay off their home a bit faster than a 30-year without the higher payments of a 15-year.)
• 15-year fixed: 5.44% (This option usually comes with a lower interest rate and allows you to build equity much faster, but your monthly payments will be higher.)
• 5/1 ARM: 5.97% (An Adjustable-Rate Mortgage where your interest rate stays the same for the first five years, then adjusts annually. This can be attractive if you plan to move or refinance before the adjustment period.)
• 7/1 ARM: 6.23% (Similar to the 5/1 ARM, but the initial fixed-rate period is seven years.)
• 30-year VA: 5.55% (For eligible veterans and service members, these rates are often lower and don't require a down payment.)
• 15-year VA: 5.04% (A shorter term option for VA loan holders, offering faster equity buildup.)
• 5/1 VA: 5.03% (An ARM option for VA borrowers, with a fixed rate for the first five years.)

Why Staying Below 6% Is a Big Deal (More Than Just a Number!)

It might seem like a small difference to go from, say, 6.1% to 5.9%, but believe me, in the world of mortgages, this is significant. Crossing that 6% threshold is more than just a symbolic win; it has real, tangible effects on the housing market and on your wallet.

• More Bang for Your Buck (Increased Purchasing Power): When interest rates are lower, you can often qualify for a larger loan amount. This means that for the same monthly payment you might have budgeted for when rates were higher, you can now potentially afford a more expensive home, or at least a home in a more desirable area. This can really open up options for potential buyers who felt priced out before.
• Savvy Refinancing Opportunities: If you bought a home in the last couple of years and locked in a rate closer to 7.5% or even 8% (which was common not too long ago!), today's rates are probably making you think hard about refinancing. Lowering your rate by even a full percentage point can save you tens of thousands of dollars over the life of your loan. I've seen many homeowners significantly improve their monthly cash flow by taking advantage of these opportunities.
• A Breath of Fresh Air for Housing Inventory: One of the biggest headaches in the housing market recently has been the “lock-in effect.” People with super low rates from years ago were hesitant to sell their homes because moving meant taking on a much higher mortgage. As rates dip back below 6%, this effect starts to ease. Some homeowners might feel more comfortable listing their properties, which could mean more choices for buyers and a more balanced market overall.

Understanding the Real-World Impact: How Much Does that 0.5% Matter?

Let's put this into perspective with a concrete example. Imagine you're looking to finance a $400,000 mortgage.

• With a 30-year fixed rate at 5.91%, your estimated monthly principal and interest payment would be around $2,375. This offers a predictable payment for a long time.
• If you opt for the 15-year fixed rate at 5.44%, your monthly payment jumps to approximately $3,256. It's a bigger payment now, yes, but you'll pay off your home in half the time and save a substantial amount on the total interest paid over the loan's life. The choice really depends on your financial goals and comfort level with monthly payments.

Those differences, especially over 15 or 30 years, add up to a huge amount of money. It's why these mortgage rate shifts are so important to pay attention to.

What's Driving These Rates? Insights from the Latest Trends

The mortgage rate environment is always a juggling act, influenced by a mix of economic cues, government actions, and even political developments. Here's what's shaping things right now:

• A Calm Before the Storm? Rate Stability: Right now, the market feels like it's in a bit of a “holding pattern.” Investors are waiting for more concrete economic data, particularly on jobs and inflation, before making big moves that could significantly push rates up or down.
• Government's Helping Hand: We saw a positive development earlier this year when Fannie Mae and Freddie Mac received a directive to purchase a substantial amount ($200 billion) of mortgage-backed securities. This action injected liquidity into the market and definitely played a role in nudging rates down below 6% as we kicked off 2026.
• Watching the Political Tea Leaves: President Trump's potential appointment for the Federal Reserve Chair, Kevin Warsh, is being closely watched. Warsh's known stance on reducing the Fed's bond holdings could, in the future, put some upward pressure on interest rates. It's a situation many are keeping an eye on.
• The Refinance Rush: As soon as rates dipped below 6% in early January, we saw a surge in refinancing activity, reaching a four-year high in mortgage affordability. This opened the door for roughly 5 million borrowers who can now potentially save money by refinancing their existing mortgages.

Key Factors That Could Still Move Your Rate

While the overall trend is positive, it's essential to remember that your individual rate can be influenced by several factors. It’s not just about the nationwide average.

• The 10-Year Treasury Yield: This is one of the most closely watched indicators. Mortgage rates tend to track the 10-year Treasury yield more directly than the Federal Reserve's short-term interest rates.
• Economic Health Check:
  • Inflation: If inflation remains stubbornly high (current readings are around 2.6%–2.7%), it can put pressure on rates to stay elevated because lenders need to protect the purchasing power of the money they lend.
  • Labor Market: On the flip side, if the job market starts to cool down or we see an increase in layoffs, that typically signals a weaker economy, which can lead to lower interest rates as the Fed might consider easing policies.
• The Power of Lender Competition: In the current market, especially after periods of lower activity, some lenders are really eager to do business. This competition is fantastic news for borrowers! It means you absolutely must shop around and compare quotes from multiple lenders. I've seen data suggesting that up to 45% of buyers get a better rate simply by comparing offers. Don't settle for the first quote you get!
• Supply and Demand in Housing: We've talked about the “lock-in effect” keeping inventory low due to high rates. As rates become more favorable, more homes might come onto the market. A healthier inventory can lead to more stable, and potentially lower, prices and mortgage rates.

A Peek into 2026: Expert Predictions for Mortgage Rates

Looking ahead, the experts have varying opinions on where mortgage rates might go throughout the rest of 2026. It's always a good idea to see what the forecasters are saying to get a broader sense of the market.

As you can see, there's a general consensus that rates will likely hover around the 6% mark, with some predicting a slight dip and others expecting them to remain fairly steady. The key takeaway is that the extreme volatility we saw in previous years seems to have subsided for now, which is a positive sign for housing market stability.

Wrapping It Up: Today's Mortgage Rates Offer Encouraging Options

To sum up, on this February 10, 2026, the mortgage rate story is one of welcome stability and affordability. With the 30-year fixed rate at 5.91% and the 15-year fixed rate at 5.44%, staying comfortably below that crucial 6% benchmark is a significant development. This level of rates benefits potential homebuyers by increasing their purchasing power, provides a strong incentive for homeowners to consider refinancing and reducing their monthly payments, and is showing early signs of easing the housing inventory crunch. For anyone looking to make a move in the housing market, today's rates offer a genuinely encouraging environment, presenting both immediate financial advantages and solid long-term investment potential.