Mortgage Interest Rates Forecast

Mortgage rates are basically stuck in neutral right now, hovering around 6% APR for another week. That’s fine news if you’re comfortable with today’s borrowing costs, but a letdown if you were hoping February would bring a noticeable drop. Rates have stayed flat as investors wait on delayed economic reports, including January’s jobs and inflation data, which could shape what the Federal Reserve does at its next meeting. Until those numbers arrive, it’s a lot of waiting and watching.

Behind the scenes, some signals point to a cooling job market. Private-sector hiring slowed sharply in January, which could eventually support lower rates if the Fed decides the economy needs a boost. Looking further ahead, big changes may be coming at the Fed itself: Jerome Powell’s term as chair ends in May, and President Trump’s expected pick to replace him favors deeper rate cuts.

»MORE: How the Fed affects mortgage rates

February mortgage rates forecast

For now, most forecasts suggest mortgage rates will hang around 6% through winter — with any real movement more likely later in the spring.