How to get a mortgage interest rate close to 5% this February

There are multiple, viable ways successful which homebuyers tin suffice for a owe complaint adjacent to 5% close now. Getty Images/iStockphoto

In caller years, nary substance your qualifications oregon what actions you took, it was fundamentally intolerable to unafraid a mortgage involvement rate nether 6%. Thanks to an elevated inflationary clime and involvement rates that sat astatine their highest levels successful decades, affordable mortgage rates were simply not available. And that was particularly hard to accept, considering that rates present were adjacent grounds lows conscionable astatine the commencement of the decade. But the owe involvement complaint clime is perpetually evolving, adjacent if it doesn't consciousness that way, and this February, options look brighter again.

Mortgage involvement rates fell to 3-year lows successful the last months of 2025, acknowledgment successful ample portion to the Federal Reserve's involvement complaint cuts, and they've started 2026 astatine oregon beneath that level. That means, close now, determination really are viable ways successful which qualified borrowers tin unafraid an affordable owe complaint again, possibly arsenic adjacent to 5% this February. Below, we'll interruption down 3 ways to see close now.

See however debased your existent owe complaint offers are here.

How to get a owe involvement complaint adjacent to 5% this February

Want to find a owe involvement complaint astir 5% this month? With no Federal Reserve gathering connected the calendar this month to interaction the complaint climate, it tin marque consciousness to thoroughly see these 3 options close now:

Research your ARM offers

An adjustable-rate mortgage is precisely what its sanction implies – a owe successful which the complaint volition set implicit time. While this whitethorn not beryllium perfect oregon adjacent preferable for galore buyers, it's a viable enactment worthy exploring this February, arsenic immoderate rates present are already successful the debased 5% range. 

While this inevitably means dealing with a owe involvement complaint alteration successful five, 7 oregon 10 years (versus not astatine each erstwhile dealing with 15-year oregon 30-year options), it tin beryllium a worthy trade-off if it means paying little involvement close now. You could ever refinance into a better, fixed-rate owe if and erstwhile those rates change, but successful the interim, you'll get locked successful with a complaint person to 5% this February.

Learn much astir your existent owe options now.

Purchase owe points

Mortgage points relation arsenic a interest that the purchaser pays the lender to unafraid a below-average rate. This tin beryllium the quality betwixt 1 of today's mean 5.85% involvement rates and a 5.35% rate. And that quality tin beryllium capable to enactment purchasing enactment close now. 

Just recognize the costs and benefits present carefully. For those who contemplate refinancing successful the not-too-distant future, for example, a owe constituent acquisition whitethorn not beryllium valuable. At the aforesaid time, it tin beryllium adjuvant for those who conscionable request a spot much assistance with their owe complaint earlier being capable to marque a last purchase.

Consider your 15-year options

The mean 15-year owe acquisition rate sits astatine conscionable 5.37% now. And that's the average, meaning that buying astir for lenders and making a ample down outgo could assistance you fastener successful a 15-year complaint that's adjacent lower. At the aforesaid time, these presumption don't enactment for everyone arsenic they often mean bigger monthly payments successful speech for the amended complaint and a much accelerated payoff timeline. 

In different words, don't get fooled by a little rate. Crunch the numbers present to marque definite that your monthly outgo volition inactive beryllium affordable, arsenic it precise good whitethorn not beryllium with fractional of the clip to wage disconnected your indebtedness erased from the equation.

The bottommost line

This February, owe involvement rates are again backmost successful the 5% scope for buyers. But they won't beryllium casual to obtain, particularly if borrowers privation rates person to 5% than 6%. By exploring their ARM options, however, reviewing their owe constituent alternatives and intimately exploring the pros and cons of 15-year terms, they whitethorn beryllium capable to unafraid a complaint connected the little extremity of that spectrum now. Consider speaking with a owe lender who tin assistance reply your questions and assistance you find your adjacent steps successful this process.

Edited by Angelica Leicht