Mortgage and Refinance Rates Update: February 17, 2026

Feb 18, 2026, 2:37 AM

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As of February 17, 2026, mortgage rates are demonstrating a notable stability that has surprised many industry observers. According to recent data from Zillow, the average 30-year fixed mortgage rate is currently at 5.85%, while the 15-year fixed mortgage rate has dipped to 5.36%. These figures represent the lowest rates reported in years, signaling a favorable environment for homebuyers and those considering refinancing their existing loans.

Today's mortgage rates are as follows:.

30-year fixed: 5.85%.

20-year fixed: 5.64%.

15-year fixed: 5.36%.

30-year VA: 5.36%.

15-year VA: 5.15%.

Similarly, the average refinance rates are also competitive:.

30-year fixed: 5.97%.

20-year fixed: 5.67%.

15-year fixed: 5.39%.

30-year VA: 5.68%.

15-year VA: 5.21%.

These national averages, particularly for refinancing, often tend to be higher than those for new mortgages. It is essential for borrowers to explore multiple lenders to secure the best rate, as individual offers can vary widely based on personal financial situations and lender criteria.

Understanding Mortgage Structures

When considering mortgage options, borrowers typically face the choice between fixed-rate and adjustable-rate mortgages (ARMs). Fixed-rate mortgages provide the security of consistent monthly payments, while ARMs offer lower initial rates that can fluctuate after a set period. The 7/1 ARM, for instance, maintains a fixed rate for the first seven years before adjusting annually, which can lead to higher payments if rates rise thereafter.

The decision between a 30-year and 15-year mortgage also has significant implications. While 15-year mortgage rates are generally lower, the monthly payments are higher due to the shorter repayment term. For example, a $400,000 loan at a 5.85% rate would result in a monthly payment of approximately $2,360 over 30 years, totaling $449,515 in interest. Conversely, a 15-year loan at a 5.36% rate would have a monthly payment of about $3,239, with total interest paid around $182,965.

Future Rate Predictions

Looking ahead, projections for mortgage rates suggest that they may not decrease significantly in the near future. The Mortgage Bankers Association (MBA) anticipates that the 30-year fixed mortgage rate will hover around 6.10% through the remainder of 2026. Similarly, Fannie Mae predicts an average rate near 6% for the year.

Conclusion

In summary, the current mortgage and refinance rates as of February 17, 2026, reflect a period of relative calm in an otherwise volatile market. With 30-year fixed rates at 5.85% and 15-year rates at 5.36%, potential homebuyers and those looking to refinance have a valuable opportunity to secure advantageous terms. As the market develops, borrowers are encouraged to remain vigilant and proactive in their search for the most favorable financing options available to them.

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