Mortgage rates dip to three-year low after Trump’s bond-buying edict

Mortgage Rates Overview - Mortgage rates have decreased, with the 30-year fixed rate averaging 6.18%, down from 6.24% last week, marking the lowest level since September 2022 [1] - The current mortgage rates for various loan types are as follows: 30-year at 6.18%, 15-year at 5.49%, and 30-year jumbo at 6.37% [2] Market Conditions - The average total of discount and origination points for 30-year fixed mortgages is 0.34, indicating a strategy to lower mortgage rates through discount points while origination points are fees charged by lenders [2] - The national median family income for 2025 is projected at $104,200, with the median price of an existing home sold in December 2025 at $405,400, leading to a monthly payment of $1,982, which constitutes about 23% of a typical family's monthly income [3] Industry Insights - Increased housing inventory and stabilizing home prices create a favorable environment for potential buyers or those looking to refinance, according to industry experts [4] - President Trump's announcement to direct Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities led to a temporary dip in mortgage rates, which had already reached a 15-month low [5][6] - There is skepticism regarding the long-term impact of Trump's proposal, with experts suggesting that without additional support from monetary or fiscal policy, the effects may be limited [7]