Mortgage Rates Inch Up | Today, February 12, 2026

Today’s mortgage rates

Mortgage rates edged slightly higher this morning, though they remain within the favorable range that’s held steady over recent weeks.

Today’s economic signals present a mixed picture, likely keeping rate movements modest in the near term as markets digest recent labor data and await further inflation updates.

With rates hovering near their lowest levels in over two years, 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

Hector Amendola, president at Panorama Mortgage Group

“There are early signs the housing market is stabilizing. Even modest declines in rates are helping restore buyer confidence, and existing home sales are slowly improving.”

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. The numbers are:

• The yield on 10-year Treasury notes decreased to 4.164% from 4.181%. (Good for mortgage rates.) Mortgage rates typically follow these Treasury bond yields. While the current yield is below the 52-week high of 4.632%, it remains above the 52-week low of 3.864%, indicating a moderately favorable environment for borrowers compared to recent peaks.
• Major stock indexes were mixed this morning. (Neutral for mortgage rates.) The Dow Jones Industrial Average fell 0.13%, the S&P 500 stayed flat, and the NASDAQ declined 0.16%. When investors buy shares, they often sell bonds, pushing prices down and increasing yields and mortgage rates. The reverse may occur when indexes drop, though this relationship is imperfect.
• Oil prices decreased to $64.34 from $64.63 a barrel. (Good for mortgage rates*.) Lower energy prices can ease inflationary pressures and signal reduced economic activity.
• Gold prices decreased to $5,075.10 from $5,098.50 an ounce. (Bad for mortgage rates*.) Gold prices tend to rise when investors worry about the economy, so falling prices can be unfavorable for rates.
• CNN Business Fear & Greed Index increased to 49 from 48 out of 100. (Bad for mortgage rates.) Higher readings suggest “greedy” investors are leaving bonds for stocks, pushing bond prices down and rates up.

*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 being shaped by three interconnected forces: Federal Reserve policy signals, labor market data, and inflation readings. The Fed held its benchmark rate steady at its January meeting and isn’t scheduled to meet again until March 17-18. However, the stronger-than-expected jobs report released February 11 has shifted expectations, making near-term rate cuts less likely and putting modest upward pressure on mortgage rates.

The employment numbers matter because they influence the Fed’s next move. Robust job growth suggests the economy doesn’t need immediate stimulus through lower rates. Lisa Sturtevant, chief economist at Bright MLS, notes that “if job growth rebounds, it is harder to see a path toward multiple rate cuts this year.”

Meanwhile, inflation remains a key consideration. The Fed has characterized inflation as “somewhat elevated,” and upcoming inflation data will help determine whether rates can ease later in 2026. The 10-year Treasury yield, which mortgage rates track closely, has been moving within a narrow band, reflecting this wait-and-see approach from investors.

For the week ahead, rates are likely to hold relatively steady, with any movement more likely to be upward than downward given the recent jobs strength.

Recent trends

Freddie Mac’s February 12 report put the weekly 30-year fixed mortgage rate average at 6.09%, dropping two basis points (0.02%) 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