The average 30-year fixed rate mortgage was 5.97% yesterday, a decrease of 0.04% since the day before. The 15-year fixed mortgage rate stood at 5.28%, down by 0.01%. The 30-year FHA mortgage averaged 5.45% yesterday, having dropped by 0.05. Meanwhile, the 30-year jumbo mortgage rate was 6.5%, reflecting no change.
The bigger picture
The average top-tier mortgage rate for a 30-year fixed-rate loan fell yesterday, again dipping below 6%. ICanBuy put that rate at 5.97%, while Mortgage News Daily says it's 5.99%.
The cause was probably the weekend's tariff news, with Barron's saying the "new 15% global tariff is causing uncertainty and confusion among investors and international lawmakers alike."
Stock prices tumbled, and, as is often the case, bond yields also fell. This often happens as nervous investors flee the stock market and swap their money into the boring but relatively safe bond market.
That pushes bond prices higher. But bond yields invariably move inversely to prices, and mortgage rates are largely determined by the yield on a type of bond, the mortgage-backed security.
Nothing's ever certain with mortgage rates. But given that the government is unlikely to change course on tariffs, we hope this fall will last longer than most others.
Scroll on down for information about today's economic reports, including their possible impact on mortgage rates.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 5.97% | 6% | -0.04% | -0.22% |
| 15-Year Fixed | 5.28% | 5.33% | -0.01% | -0.11% |
| 30-Year Fixed FHA | 5.45% | 6.67% | -0.05% | -0.2% |
| 30-Year Fixed VA | 5.57% | 5.71% | -0.05% | -0.18% |
| 30-Year Fixed USDA | 5.59% | 5.74% | +0% | -0.07% |
| 30-Year Fixed Jumbo | 6.5% | 6.51% | +0% | -0.21% |
| 5/6 Year ARM | 5.91% | 5.94% | -0.01% | -0.19% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.03% | 6.05% | -0.03% | -0.24% |
| 15-Year Fixed | 5.28% | 5.31% | +0.02% | -0.07% |
| 30-Year Fixed FHA | 5.42% | 6.63% | -0.05% | -0.19% |
| 30-Year Fixed VA | 5.6% | 5.73% | -0.05% | -0.21% |
| 5/6 Year ARM | 5.9% | 5.92% | -0.02% | -0.25% |
What's coming up?
Although economic reports are usually the main drivers of changes to mortgage rates, they're not the only ones. The general mood in markets and economically consequential news can also affect those rates. News items concerning employment, inflation, tariffs and deficit funding are especially influential at the moment.
Comerica Bank's preview of this week's economic reports
In an e-newsletter on Monday, Comerica Bank's economics team gave its take on this week's economic reports:
"Benchmark house price indexes likely slowed at the end of 2025, closing the year with increases in the one-to-two percent range. Housing is still expensive, but affordability is improving as prices rise at a slower pace than incomes or household wealth. House prices will likely continue to rise at a modest pace in 2026. Their relative stability in recent years is making a helpful contribution to lower core inflation."
Mortgage rates today
There are three economic reports on today's MarketWatch economic calendar. But only one is likely to make much difference to mortgage rates, and even that tends to have only a modest effect, if any.
That report is the consumer confidence index for February. Markets expect it to come in at 88.6, better than the previous 84.5.
Today's other reports are the S&P Case-Shiller home price index for December (price increases are expected to have slowed slightly to 1.2% from 1.3% in November) and December's wholesale inventories (expected to hold steady at 0.2%).
Typically, mortgage rates move lower on worse-than-expected data and rise when the numbers are better than expected. However, we'll be surprised if today's reports have a noticeable effect on those rates.
No economic reports are scheduled for tomorrow.
