What are today’s mortgage interest rates: February 17, 2026?

With no Federal Reserve meeting on the calendar for February, homebuyers and owners hoping to refinance may have understandably presumed that mortgage interest rates would hold steady this month. But while the Fed is a driver behind mortgage loan rates, albeit a major one, other factors can also impact what rates borrowers are offered. And following reports last week showing inflation and unemployment declining again, these borrowers may be pleasantly surprised at how low their current mortgage interest rate offers are now.

Mortgage interest rates in 2025, after all, declined by more than a full percentage point, on average. And they may continue to decline in the months ahead if current conditions hold or if the Fed cuts rates again this spring. At the same time, mortgage rates may already be low enough to justify taking action now, especially if waiting results in increased competition and potentially higher home prices. To best decide on your next steps, it helps to know where exactly mortgage interest rates stand as of February 17, 2026. That’s what we’ll outline below.

Start by seeing how low your current mortgage interest rate offers are here now.

What are today’s mortgage interest rates?

The average mortgage interest rate on a 30-year term is 5.87% as of February 17, 2026, according to Zillow. The average mortgage interest rate on a 15-year term is now 5.37%. With these being averages, however, and owners having the ability to secure lower rates by shopping around for lenders, adding mortgage points, or pursuing an adjustable-rate mortgage (ARM), borrowers can potentially lock in rates closer to 5% right now. And with the major economic data points already released for February, they can spend the final weeks of the month exploring these options carefully to determine which one best offers the most flexibility and affordability.

Shop for mortgage rates and lenders online today.

What are today’s mortgage refinance rates?

The average mortgage refinance rate on a 30-year term is 6.47% as of February 17, 2026, according to Zillow. The median refi rate on a 15-year term is now 5.44%. There may be affordable openings, then, both for buyers who have rates over 7% right now and those who have 30-year terms looking to expedite their payoff timeline (and reduce their rate) by refinancing into a 15-year alternative. 

Just be sure of your long-term plans for the home before acting, as refinancing comes with closing costs that will need to be accounted for. If you’re planning on selling the home before recuperating those costs, a refinance will often not be worth pursuing.

The bottom line

The average mortgage interest rate on a 30-year term is now 5.87% and 5.37% for a 15-year option. The average mortgage refinance rate for a 30-year term is now 6.47% and 5.44% for 15-year options. In short, there are plenty of improved rates to explore now, whether you’re a buyer or owner. Take the time, then, to look around to see what’s available. With online marketplaces listing rates, lenders, terms and more in one simple-to-review location, it’s arguably easier than ever to compare your options.