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Current refi mortgage rates report for Feb. 6, 2026
The current average refinance rate on a 30-year, fixed-rate home loan is 6.28%, according to data from the popular real estate marketplace Zillow. If you’re a homeowner hoping to refinance your mortgage for a lower rate or perhaps to tap home equity, read on to see average refi interest rates for a variety of loan types and terms. You can also see the prior day’s report here.
Note that Fortune reviewed the most recent Zillow data available as of Feb. 5.
Boiled down to the basics, a mortgage refinance replaces your existing home loan with a new one. As when you applied for a mortgage to purchase your home, you’ll need to apply and meet lender criteria regarding your credit profile, proof of income, your debt-to-income (DTI) ratio, and more. This process typically results in a small hit to your credit score due to a hard inquiry. And, be aware there’s a risk of denial if you don’t meet the lender’s requirements.
When will mortgage rates go down? Insights as rates remain stagnant.
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The national average 30-year rate has hardly moved this week, now sitting at 6.11%, according to Freddie Mac. However, the Federal Reserve did not lower the federal funds rate at its January 28 meeting, and it probably won’t cut its rate for several more months. So, what does this mean for the 2026 housing market? Will mortgage rates go down in the near future?
Want to buy a house in early 2026? Here’s how to get started.
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Mortgage Rates Today, Feb 7, 2026: 30-Year Refinance Rate Drops by 9 Basis Points
Today, February 7, 2026, the national average 30-year fixed refinance rate has nudged down, offering a slightly better deal than what we saw last week. Specifically, this popular loan type is now sitting at 6.49%, marking a 9 basis point (or 0.09%) drop from last week's average of 6.58%, according to data provided by Zillow. This isn't a seismic shift, but it's a welcome movement in the right direction for many.
For those of us who track the housing market closely, these seemingly minor shifts are often the early signs of bigger trends. Let's dive into what's happening with mortgage rates today and what it could mean for the rest of 2026.
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