"It's another week where mortgage rates seem to be doing a whole lot of nothing - a good thing if you can afford an APR around 6%, though not so good if you were hoping to score a sweetheart of a deal this February. In the week ending Feb. 5, the average 30-year fixed mortgage rates stayed completely flat from the week prior at 6.01%, according to rates provided to NerdWallet by Zillow."
"We were supposed to get January's jobs report tomorrow from the Bureau of Labor Statistics (BLS), but it's been delayed until Feb. 11 because of the (now ended) partial government shutdown. The Consumer Price Index, which provides a key federal measure of inflation, has also been pushed a few days, from next Wednesday to next Friday. In March, central bankers will be tasked with balancing unemployment and inflation at the Federal Reserve's next meeting."
Thirty-year fixed mortgage rates remained flat at 6.01% for the week ending Feb. 5, while 30-year APRs averaged 5.99% in January, nearly 100 basis points below January 2025's 6.96% average. The Bureau of Labor Statistics postponed the January jobs report to Feb. 11 and the Consumer Price Index release by a few days due to the partial government shutdown. The Federal Reserve will weigh unemployment and inflation at its March meeting, and weaker employment could strengthen the case for lowering the federal funds rate and easing mortgage rates. ADP reported the private sector added just 22,000 jobs in January, signaling soft private hiring.
Read at SFGATE
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