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Story summary
- As of February 2, 2026, the average 30-year fixed rate is 5.99% and the 15-year is 5.37%.
- Refinance rates are 6.63% for 30-year and 5.63% for 15-year terms.
- The Federal Reserve's rate cuts have contributed to easing borrowing costs for buyers and refinancers.
- Homeowners are advised to shop around for conventional and government-backed loan options.
