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If you find yourself browsing real estate listing websites with increasing frequency, you should be prepared for a spike in potential listings in the weeks ahead. The traditional spring homebuying season is often a popular time for sellers to list their homes and for buyers to have greater inventory to choose from. Before getting too deep into your home search, however, it may be worth pausing to see which mortgage interest rates you currently qualify for. And, in today’s improved interest rate environment, you may be surprised at how much more affordable current rates actually are.
While still far from the lows readily available at the start of the decade, mortgage interest rates now are considerably lower than they were one year ago. And they could become even cheaper in the months ahead. Locking in one now, however, can both safeguard your rate and better help you determine the budget for the homes you’re already searching for online.
So, what are today’s mortgage interest rates as of February 20, 2026? That’s what we will examine below.
See how affordable your current mortgage rate offers are here.
What are today’s mortgage interest rates?
The average mortgage interest rate on a 30-year mortgage is 5.87%, as of February 20, 2026, according to Zillow. The average 15-year mortgage rate is 5.37%. With both rates just averages and the possibility of securing a rate half a percentage point lower, or even a full percentage point lower, simply by shopping around online, borrowers may want to take more aggressive action now. Just remember that the most competitive rates and terms will be reserved for those borrowers with the best credit scores, so if your credit needs improving, consider working on that first.
Shop for mortgage rates and lenders online today.
What are today’s mortgage refinance rates?
The average mortgage refinance rate on a 30-year mortgage is 6.43% as of February 20, 2026, according to Zillow. The median refi rate for a 15-year mortgage is 5.46%. While there is a major disparity between terms, both rates can represent meaningful savings for borrowers, especially those who purchased a home in the high-rate environment of 2022 to 2025.
Take the time, then, to calculate your potential costs here. Some borrowers may find that a rate a full percentage point lower justifies a refinance application, while others may find that a rate that’s just half a percentage point below their current one is worth securing.
The bottom line
The average mortgage interest rate for a 30-year term is 5.87% as of February 20, 2026, and 5.37% for 15-year terms. The median mortgage refi rate on a 30-year term is 6.43%, and it’s only 5.46 for 15-year options. So there are plenty of ways in which to secure a rate under 6% and potentially closer to 5% now. Stay on the house hunt, then, and continue looking for your dream home, but also consider shopping around for mortgage rates, as now could once again be a smart and affordable time to act.
