Did mortgage rates cross 6% again?

The Housing Market Shift

Mortgage rates crossed above 6% on February 5, 2026, with the 30-year fixed rate reaching 6.03%—the first time above this threshold in two weeks.

The Current Landscape

Still historically attractive: Rates are down more than a full percentage point from a year ago.

15-year at 5.50%: The shorter term remains well under 6%.

Spring timing: With homebuying season weeks away, buyers may want to lock in before competition heats up.

Expert Advice

No Fed meeting this month and no major unemployment reports mean fewer potential disruptions to the rate climate. Experts suggest now may be an ideal time to act before spring demand drives prices higher in March-April.