Mortgage Rates Overview - The average 30-year fixed mortgage rate is currently 6.01%, while the 15-year fixed rate is at 5.44% [1][18] - Mortgage refinance rates are generally higher than purchase rates, but this is not always the case [3] Current Mortgage Rates - Current national average mortgage rates include: - 30-year fixed: 6.01% - 20-year fixed: 5.95% - 15-year fixed: 5.44% - 5/1 ARM: 6.23% - 7/1 ARM: 6.51% - 30-year VA: 5.52% - 15-year VA: 5.14% - 5/1 VA: 5.22% [5] Market Trends - Mortgage rates have gradually decreased since the end of May, with the 30-year fixed rate peaking over 7% in January [20] - The Mortgage Bankers Association (MBA) forecasts the 30-year mortgage rate to be around 6.4% through 2026, while Fannie Mae predicts it will remain above 6% next year, dropping to 5.9% in Q4 2026 [19] Buying Considerations - The current housing market is considered relatively favorable for buyers compared to the previous years, as home prices are not experiencing the same spikes as during the COVID-19 pandemic [16] - The best time to buy a house is when it aligns with an individual's life stage rather than trying to time the market [17]
Mortgage and refinance interest rates today, January 3, 2026: Almost exactly where they were one week ago