Mortgage Rates Steady | Today, February 19, 2026

Today’s mortgage rates

Mortgage rates held steady this morning, remaining near their lowest levels in over three years.

Today’s blend of economic signals presents a mixed picture, with labor market strength and inflation concerns likely to keep rate movements modest in the near term.

With rates hovering near three-year lows, see if it makes sense to refinance or tap into your home equity. For hopeful home buyers, see what advice experts have for 2026 and if you qualify for financial assistance programs or more lenient loan types.

Current mortgage and refinance rates

>Related: 7 Tips to get the best refinance rate

30-year fixed rate mortgage

At the time this was published, the average 30-year fixed mortgage rate reached %.

The average 30-year fixed rate mortgage (FRM) hit a record weekly low of 2.65% on Jan. 7, 2021, and a record weekly high of 8.89% on Dec. 16, 1994, according to Freddie Mac.

A 30-year FRM gives borrowers an affordable option but you pay more interest over the life of the loan compared to shorter mortgages.

15-year fixed rate mortgage

Today, the average 15-year fixed mortgage rate went to %.

The average 15-year FRM hit a record weekly low of 2.1% on July 29, 2021, and a record weekly high of 18.63% on Sep. 10, 1981, according to Freddie Mac.

The 15-year FRM offers borrowers a briefer term with less accrued interest, but the monthly payments will be much higher.

5/1 adjustable-rate mortgage

This morning’s 5/1 adjustable rate mortgage averaged %.

Adjustable-rate mortgages (ARMs) typically have lower initial interest rates compared to fixed loans. Once that initial period ends, the interest rate adjusts to the current market conditions. In this case, the initial period is five years and the adjustments are up to once every year. Homeowners with shorter term lending plans tend to see these as advantageous.

What experts are expecting

Dan Cooper, capital markets and servicing EVP at Cornerstone Home Lending

“Mortgage rates are expected to remain largely unchanged throughout February, as persistently higher-than-desired inflation continues to be offset by a slowly weakening — yet still resilient — labor market.”

Market data affecting today’s mortgage rates

Here’s a snapshot of the state of play as this article was published. The data mostly compares to roughly the same time the business day before, so much of the movement will often have happened in the previous session. These movements are based on the previous day’s settlement prices.

The numbers are:

• The yield on 10-year Treasury notes increased to 4.096% from 4.081%. (Bad for mortgage rates.) Mortgage rates typically follow these Treasury bond yields. While the increase is modest, the yield remains below the 52-week high of 4.632%, suggesting relatively favorable conditions compared to recent peaks.
• Major stock indexes declined this morning. (Good for mortgage rates.) The Dow fell 0.59%, the S&P 500 dropped 0.47%, and the Nasdaq declined 0.70%. When investors sell shares, they often buy bonds, pushing prices up and decreasing yields and mortgage rates. The opposite may happen when indexes rise, though this relationship is imperfect.
• Oil prices increased to $66.32 from $65.19 a barrel. (Bad for mortgage rates*.) Energy prices influence inflation and economic activity. Rising tensions between the U.S. and Iran have contributed to oil’s recent climb.
• Gold prices decreased to $5,003.60 from $5,009.50 an ounce. (Bad for mortgage rates*.) Gold tends to rise when investors worry about the economy, so falling prices can signal less concern.
• Fear & Greed Index decreased to 39 from 40 out of 100. (Good for mortgage rates.) Lower readings are often better, as “fearful” investors buy bonds, pushing prices up and rates down. The index remains in “Fear” territory.

*A movement of less than $20 on gold prices or 40 cents on oil prices is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.

Caveats about markets and rates

Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. But that’s no longer the case. We still make daily calls. And are usually right. But our record for accuracy won’t achieve its former high levels until things settle down.

So, use markets only as a rough guide. Because they have to be exceptionally strong or weak for us to rely on them. But, with that caveat, mortgage rates today might nudge upward or barely budge. However, be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.

What’s driving mortgage rates today?

This week

Mortgage rates are likely to hold steady in the coming days, with most analysts expecting little movement from current levels. The Federal Reserve’s next meeting in mid-March looms as a key event, but policymakers have given few hints about their intentions. Recent economic data presents a mixed picture: January’s job creation exceeded expectations and unemployment held at 4.3%, yet other labor market indicators show signs of softening, including fewer job openings and rising unemployment insurance claims.

Inflation remains the central challenge. Consumer prices continue running above the Fed’s 2% target, making rate cuts less likely in the near term. Several mortgage industry experts note that without meaningful surprises in upcoming inflation reports or labor data, rates should stay in their current range between 6% and 6.5%. The consensus among economists at Fannie Mae and the Mortgage Bankers Association points to rates hovering around 6% throughout 2026.

Beyond economic fundamentals, individual borrower factors continue to determine actual quoted rates. Credit scores, down payment size, loan type, and property characteristics all influence the final rate a lender offers. While broader market forces set the baseline, these personal elements can create significant variations between borrowers shopping for mortgages this week.

Recent trends

Freddie Mac’s February 19 report put the weekly 30-year fixed mortgage rate average at 6.01%, dropping eight basis points (0.08%) from the previous week. Rates remain near three-year lows, with purchase and refinance applications rising year-over-year. Freddie’s data serves as a market barometer and trend tracker, but individual rates vary by lender and depend on personal financial profiles.

Expert forecasts for mortgage rates

Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.

Here are their quarterly rate forecasts for 2026.

The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie updated its forecast on January 13 and the MBA updated theirs on January 21.

Of course, given so many unknowables, these forecasts might be even more speculative than usual. And their past record for accuracy — due to the volatile nature of interest rates — hasn’t been wildly impressive.

Mortgage rate methodology

The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.

Current mortgage rates methodology

We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.

Today’s mortgage rates FAQ