Mortgage rates are driven by bonds and that bonds care about employment data. There are quite a few different economic reports that focus on various employment metrics. Next Wednesday's jobs report is the biggest ticket by far, but other reports can move the needle at times--especially when they fall far from forecasts or previous readings. This was the case with three separate reports today.  One of them almost never gets covered in the news, but it showed planned layoffs at large firms were the third highest since 2020. The second was the weekly jobless claims report, which finally ticked up to slightly higher levels after coming in lower than average over the past few weeks. Garnering the biggest reaction was the Job Openings data for December, which showed the lowest levels since September 2020--much lower than forecast for today. The bond market was surprisingly willing to respond.  There was even a noticeable shift in Fed rate cut expectations (not that this should be confused for anything that impacts mortgage rates!).  The average lender moved back to the lowest levels of the week after spending the last 2 days at 2-week highs.  Caveat: the 2 week range is very narrow (6.15-6.20). [thirtyyearmortgagerates]

February 5, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.17% -0.03%   6.01% 7.13% 15 Yr. Fixed 5.75% -0.01%   5.55% 6.5% 30 Yr. Jumbo 6.35% -0.01%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Feb 5, 2026 Mortgage Rates Fall After Downbeat Employment Data Thu, Feb 5, 2026 1:52PM Mortgage rates are driven by bonds and that bonds care about employment data. There are quite a few different economic reports that focus on various employment metrics. Next Wednesday's jobs report is the biggest ticket by far, but other reports can move the needle at times--especially when they fall far from forecasts or previous readings. This was the case with three separate reports today.  One of them almost never gets covered in the news, but it showed planned layoffs at large firms were the third highest since 2020. The second was the weekly jobless claims report, which finally tic... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.17% -0.03 0.00 15 Yr. Fixed 5.75% -0.01 0.00 30 Yr. FHA 5.80% -0.04 0.00 30 Yr. Jumbo 6.35% -0.01 0.00 7/6 SOFR ARM 5.59% -0.05 0.00 30 Yr. VA 5.81% -0.04 0.00 Updates Daily - Last Update: 2/5 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 99.95 +0.23   95.71 100.50 UMBS 30YR 5.5 101.45 +0.19   98.11 101.64 10 YR Treasury 4.209 -0.069   3.932 4.608 Stronger Start Thanks to Employment Data Thu, Feb 5, 2026 9:21AM Bonds were incidentally and inconsequentially stronger to start the overnight session, but began to see better gains after 7am ET. There were two notable bumps in volume after the 7:30am Challenger job cut data and the 8:30am Jobless Claims data.  Of the two, the latter was much more clearly linked to gains.  Challenger definitely got a small volum... (read more) MBS Price Change UMBS 4.5 97.90 +0.34 UMBS 5.0 99.97 +0.25 UMBS 5.5 101.45 +0.19 GNMA 4.5 97.63 +0.19 GNMA 5.0 100.04 +0.21 GNMA 5.5 101.15 +0.02 Pricing as of: 2/5 3:29PM EST US Treasury Yield Change 2 YR Treasury 3.483 -0.072 5 YR Treasury 3.749 -0.082 7 YR Treasury 3.971 -0.078 10 YR Treasury 4.207 -0.071 30 YR Treasury 4.861 -0.059 Pricing as of: 2/5 3:29PM EST Other News Climate Risk, Processing, Construction, Credit Score Programs; IMB Topics; In-Person Events Thu, Feb 5, 2026 11:31AM Yup, another competitor for lenders come July: Bed Bath & Beyond is acquiring Tokens.com “to develop a blockchain-based investment and personal finance platform” and will use tools from tZERO and integrate with blockchain firm Figure to offer services such as mortgages and renovation loans. Indeed, mergers, acquisitions, and strategic partnerships are al... (read more) Latest Video Jobless claims rise more than expected Rocket Companies CEO: On track to produce the highest mortgage loan product... Private payrolls rose by just 22,000 in January, far short of expectations:... ISM non-manufacturing PMI comes in at 53.8 vs. 53.5 estimated Around the Web Morningstar U.S. Economy Shed Nearly 1 Million Job Openings Last Year Eye on Housing Builders Top Challenges for 2026 BLS JOB OPENINGS AND LABOR TURNOVER – DECEMBER 2025 CNBC Layoffs hit their worst January levels since 2009, Challenger says FXStreet United States Continuing Jobless Claims below forecasts (1.85M) in January 23: Actual (1.844M) CNBC A surprising share of homeowners have high mortgage rates. Here's the breakdown CNBC Treasury yields move lower as investors await more jobs data CNBC Private payrolls rose by just 22,000 in January, far short of expectations, ADP says MBA Mortgage Applications Decrease in Latest MBA Weekly Survey CNBC January jobs report will be released on February 11 after shutdown delay PR Newswire Services PMI® at 53.8%; January 2026 ISM® Services PMI® Report FXStreet United States S&P Global Services PMI above forecasts (52.5) in January: Actual (52.7) CNBC Treasury yields hold steady as investors look ahead to further economic data

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