Mortgage Rates Today Drop to Lowest Point Since 2022 — What It Means for Houses for Sale
Current mortgage rates are making headlines as the 30-year fixed-rate mortgage dips below 6% for the first time in years. The shift is creating fresh momentum in the housing market, offering buyers and homeowners a rare window of opportunity heading into the spring season.
Mortgage Rates Today: Where the Numbers Stand
The average 30-year fixed mortgage rate today is sitting at 5.76%, while the 15-year fixed rate stands at 5.37%, giving buyers who have been waiting for a sub-6% rate a clear entry point. These figures represent a meaningful improvement over where rates stood just twelve months ago.
A year ago, the 30-year fixed-rate mortgage averaged 6.85%, meaning today's current mortgage rates represent nearly a full percentage point of relief for new borrowers entering the market. That gap translates to hundreds of dollars in monthly savings for the average homebuyer.
Current Mortgage Rates by Loan Type
Buyers exploring houses for sale have several mortgage rate options to consider right now. The rate environment varies depending on the loan structure chosen.
| Loan Type | Current Rate |
|---|---|
| 30-Year Fixed | 5.76% – 6.07% |
| 15-Year Fixed | 5.31% – 5.37% |
| 30-Year FHA | 5.50% |
| 30-Year Jumbo | 6.49% |
| 30-Year Refinance | 6.46% |
The 5/1 adjustable-rate mortgage is currently pricing at 5.93%, offering another avenue for buyers seeking flexibility in their financing.
What's Driving Mortgage Rates Lower
The downward movement in current mortgage rates is tied to several converging economic forces. The Federal Reserve held its benchmark rate steady at its first 2026 meeting after cutting three times in late 2025, creating a relatively calm backdrop for borrowing costs.
With no Federal Reserve meeting scheduled for February, policymakers remain in wait-and-see mode, and the next major policy gathering won't occur until mid-March, leaving mortgage rates dependent on incoming economic signals. That stability has kept today's rates anchored near multi-year lows.
Mortgage Rates and the Houses for Sale Market
The drop in mortgage rates is rippling directly into demand for houses for sale nationwide. Affordability has improved sharply, and both purchase applications and refinance activity are trending upward.
Refinance application activity has more than doubled over the past year, enabling many recent buyers to reduce their annual mortgage payments by thousands of dollars. Homeowners who purchased at the peak of the rate cycle are now positioned to lower their costs significantly.
Federal housing regulators have indicated a desire to relax regulations on mortgage lenders and servicers, which could lead to more loans being written — a boost the housing market needs heading into the spring homebuying season.
What Forecasters Expect for Mortgage Rates
Looking ahead, major housing agencies are projecting that current mortgage rates will hold relatively close to today's levels throughout 2026, with limited room for dramatic movement.
The Mortgage Bankers Association expects the 30-year mortgage rate to stay near 6.10% through 2026, while Fannie Mae also predicts a 30-year rate near 6% through the end of the year. Buyers hoping for rates below 5.50% may need to wait well into 2027 or beyond.
How to Lock in the Best Mortgage Rate Today
With mortgage rates today hovering near three-year lows, acting sooner rather than later carries real advantages. Borrowers should compare offers from multiple lenders — including banks, credit unions, and online platforms — before committing.
On a $400,000 mortgage at today's 30-year rate of 5.76%, the estimated monthly principal and interest payment comes to roughly $2,337, compared to $3,241 for the same loan on a 15-year term at 5.36%. Buyers weighing houses for sale right now should run both scenarios before choosing a loan structure.
