Average US Long-Term Mortgage Rate Dips Slightly

Rates hold just above 6% as housing market approaches spring buying season

Published on Feb. 12, 2026

Got story updates? Submit your updates here. ›

The average long-term U.S. mortgage rate has dipped slightly to just above 6% this week, reversing a modest uptick in recent weeks. The 30-year fixed rate mortgage rate slipped to 6.09% from 6.11% last week, while the 15-year fixed rate mortgage rate fell to 5.44% from 5.5% last week. Mortgage rates are influenced by factors like the Federal Reserve's interest rate policy and bond market investor expectations.

Why it matters

Mortgage rates have been trending lower for months, helping drive a pickup in home sales in the last four months of 2025. However, the combination of higher rates, rising home prices, and a shortage of homes nationally have left many aspiring homeowners priced out of the market. Lower rates have so far failed to revive home sales, which remain stuck at 30-year lows.

The details

The modest pullback in mortgage rates brings the average 30-year rate back to where it was three weeks ago. Mortgage rates are influenced by several factors, including the Federal Reserve's interest rate policy decisions and bond market investors' expectations for the economy and inflation. They generally follow the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans. The 10-year Treasury yield was at 4.13% at midday Thursday, down from 4.21% a week ago.

  • The average 30-year fixed rate mortgage rate slipped to 6.09% from 6.11% last week.
  • The average 15-year fixed rate mortgage rate fell to 5.44% from 5.5% last week.

The players

Freddie Mac

A mortgage buyer that publishes the average long-term U.S. mortgage rates.

Federal Reserve

The central bank that sets interest rate policy, which can influence mortgage rates.

Realtor.com

A real estate data and listings website that provided analysis on the housing market and mortgage rates.

Got photos? Submit your photos here. ›

What they’re saying

“In short, while the market remains stable, a larger drop in rates will be needed to attract new buyers and sellers and truly reignite the housing market.”

— Jiayi Xu, Economist (Realtor.com)

The takeaway

While mortgage rates have dipped slightly, they remain elevated compared to recent years, continuing to price out many aspiring homebuyers and limiting activity in the housing market. A more substantial drop in rates would be needed to truly revive home sales and attract new buyers and sellers.