MoneyWatch: Managing Your Money
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February 24, 2026 / 9:12 AM EST
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Buying or refinancing a home is considerably more affordable now than it was in 2024 or 2025.
FRANCESCO CARTA/Francesco Carta fotografo/Getty Images
While news released earlier this month showing declines in inflation and unemployment may, on the surface, seem unrelated to mortgage interest rates, the reality is more complex. Mortgage interest rates are actually driven by a variety of factors, and both of those, when declining, can impact the Federal Reserve’s interest rate policy, which greatly impacts what rates buyers and owners hoping to refinance are then offered. At the same time, with no Federal Reserve meeting having taken place this month, the climate is a bit more stable than it would have been otherwise. And that’s a good thing for those looking for a low mortgage interest rate.
Rates here, after all, declined considerably in 2025, and they may be positioned to fall further later this year if the Fed resumes its interest-rate cutting campaign, as many anticipate. At the same time, rates here are already lower than they have been in recent years, and with today’s market stability, buyers and owners can feel secure in taking the time to shop for affordable rates without having to be overly concerned about market impacts one way or another.
So, what are today’s mortgage interest rates, specifically, as of February 24, 2026? That’s what we’ll examine below.
See how low 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 24, 2026, according to Zillow. That’s where the rate has consistently sat in recent weeks, illustrating the stability in the mortgage rate environment currently. The median rate on a 15-year term, meanwhile, also stayed the same at 5.37%.
With these just being averages, however, buyers are encouraged to shop around to see if they can qualify for better rates. And with online marketplace websites listing rates, lenders, terms and fees all in one easy-to-digest location, it’s arguably easier than ever to do that now.
Shop for mortgage rates and lenders online now.
What are today’s mortgage refinance rates?
The average mortgage refinance rate on a 30-year mortgage is 6.46% as of February 24, 2026, according to Zillow. The median rate on a 15-year alternative is currently 5.54%. So there may now be significant savings opportunities for homeowners, whether today’s rates represent a rate half a percentage point lower than their current one or even a full percentage point lower.
Crunch the numbers, then, to see if today’s rates are now low enough to support an application, but don’t forget the added expense of closing costs to best determine your next, most affordable move.
The bottom line
The average mortgage interest rate on a 30-year mortgage is 5.87% as of February 24, 2026, and it’s just 5.37% for a 15-year alternative. The median refinance rate on a 30-year mortgage, meanwhile, is now 6.46%, and its 5.54% for 15-year alternatives. Explore your options closely, then, as these rates are significantly improved from where they were at many points in 2023 to 2025. And with the market relatively stable right now, you may have an opportunity to thoroughly shop around without having to worry about pending items that could cause your rate offers to be significantly altered.
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