Mortgage and refinance interest rates today, January 24, 2026: The 30-year drops to an important baseline

Core Insights - The average 30-year fixed mortgage rate has decreased to 6.00%, while the 15-year fixed rate is at 5.50%, indicating a potential opportunity for consumers to lock in favorable mortgage rates [1][18]. Current Mortgage Rates - Current national average mortgage rates include: - 30-year fixed: 6.00% - 20-year fixed: 5.98% - 15-year fixed: 5.50% - 5/1 ARM: 6.15% - 7/1 ARM: 6.35% - 30-year VA: 5.54% - 15-year VA: 5.14% - 5/1 VA: 5.18% [5] Refinance Rates - Today's mortgage refinance rates are generally higher than purchase rates, with the national averages rounded to the nearest hundredth [3]. Market Conditions - The current housing market is more favorable for buyers compared to the previous years, with home prices stabilizing and mortgage rates having decreased since last year [16]. Future Rate Expectations - The Mortgage Bankers Association (MBA) forecasts that the 30-year mortgage rate will remain near 6.4% through 2026, while Fannie Mae predicts rates above 6% for the next year, potentially dipping to 5.9% in Q4 2026 [19]. Historical Rate Trends - Mortgage rates have gradually decreased since the end of May, with the 30-year fixed rate peaking over 7% in January 2025 before fluctuating [20].