Explore the latest developments concerning Lowest Mortgage Rates.
Lowest Mortgage Rates in More Than 3 Weeks
Mortgage rates fell on Tuesday following a downbeat Retail Sales report. At 0.05%, it was the largest single-day drop since the uncommonly big 0.15% drop on January 9th. This also takes the average 30yr fixed rate to 6.11%, easily below its recently narrow range of 6.15-6.20.
The bonds that drive mortgage rates are always tuned in to various economic reports for movement cues. Weaker data = lower rates, all else equal. Retail Sales is hit and miss when it comes to causing rate volatility. The undisputed champion among economic reports is tomorrow's jobs report at 8:30am ET.
Several recent rate rallies have been slightly larger than they otherwise might have been because the market may be positioning for a downbeat jobs number. If it is weaker than expected, there's certainly room for the rate rally to continue, but if the report shows resilience, rates would likely bounce back higher.
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?
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What are today's mortgage interest rates: February 9, 2026?
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This February could be a smart time for homebuyers and owners hoping to refinance to explore their mortgage rate options. For starters, there's no Federal Reserve meeting scheduled for this month to impact the mortgage rate climate one way or another. Unemployment data, which can have an impact, is also delayed. And inflation, while still sticky, has remained stable in recent months. So stability here can translate into stability in the mortgage rate environment, which is welcome after the stark ups and downs this space has experienced since the start of the decade.
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