The average long-term U.S. mortgage rate is holding at just above 6% this week after reversing a modest uptick in recent weeks just as the housing market closes in on the spring homebuying season
ByALEX VEIGA AP business writer
February 12, 2026, 12: 05 PM
The average long-term U.S. mortgage rate is holding at just above 6% after reversing a modest uptick in recent weeks just as the housing market closes in on the spring homebuying season.
The benchmark 30-year fixed rate mortgage rate slipped to 6.09% from 6.11% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.87%.
The modest pullback brings the average rate back to where it was three weeks ago.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also edged lower this week. That average rate fell to 5.44% from 5.5% last week. A year ago, it was at 6.09%, Freddie Mac said.
Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. They generally follow the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans.
The 10-year Treasury yield was at 4.13% at midday Thursday, down from 4.21% a week ago.
M