Mortgage Rates Near 6% in 2026: Why Shopping for Lenders Matters More Than Ever

As of Feb. 9, 2026, , with some top lenders like Navy Federal and Citi Mortgage offering rates below 6%.

The annual percentage rate (), which includes lender fees, varies significantly among lenders, .

Mortgage rates remain near 6% due to a combination of stable 10-year Treasury yields, tight labor market conditions, and limited housing supply, despite the Fed's rate cuts in 2025.

, but navigating the market is still complex for homebuyers and homeowners. , while , respectively. The key differentiator isn't just the interest rate—it's the APR, which includes fees and gives a more accurate picture of total borrowing costs. For example, , translating into major savings over the life of a 30-year loan.

What Are the Best Mortgage Lenders Today, and Why Does APR Matter? ["mortgage rates today"]

Shopping for mortgage rates is more critical than ever, even as national averages remain above 6%. According to Realtor.com analysis, . The APR accounts for lender fees such as origination charges and , which are often excluded in advertised interest rates. Navy Federal and Citi Mortgage continue to dominate the low-rate landscape, while lenders like Chase and PenFed also offer competitive terms. Discount points are optional and can be declined during the Loan Estimate process to avoid inflating upfront costs.

The importance of APR becomes even clearer when comparing similar-rate loans. Lenders often advertise based on varying borrower qualifications, including credit scores and down payment sizes. Focusing solely on interest rates can mislead borrowers into choosing a seemingly lower-rate loan with higher overall fees. The bottom line: Borrowers should prioritize APR comparisons and consider zero-discount-point quotes for the most accurate and fair side-by-side evaluations.

Why Are Mortgage Rates Sticking Near 6% Despite the Fed's Rate Cuts in 2025? ["mortgage rates today"]

The current mortgage rate environment reflects a delicate balance between Federal Reserve policy and bond market expectations. While the Fed cut interest rates in late 2025, mortgage rates have not mirrored the same downward movement due to continued inflation and labor market pressures. The 10-year Treasury yield, a major benchmark for mortgage pricing, . As a result, .

The Fed's balance sheet also plays a role. In 2025, the central bank ended its policy, which had been shrinking its holdings of mortgage-backed securities and pushing rates higher. However, the Fed's limited rate-cut outlook for 2026 suggests that mortgage rates may stay near current levels for now.

How Can Borrowers Save Money by Comparing APRs and Shopping Across Lenders? ["mortgage rates today"]

Shopping for mortgage loans isn't just about finding the lowest interest rate—it's about evaluating total costs. , and this can have a profound impact on long-term savings. For example, can translate into significant savings over a 30-year mortgage.

Borrowers should also be aware of optional fees like discount points, which can lower the interest rate in exchange for upfront costs. While these can be beneficial in some cases, they're not always necessary—especially for borrowers who want to minimize closing costs. It's also wise to explore lender promotions, .

Ultimately, the most strategic approach is to request rate quotes from multiple lenders with zero discount points. This allows for a fair comparison and helps borrowers avoid overpaying in fees. Given the current rate environment and the potential savings, there's no better time than now to shop for the most competitive mortgage terms.