Mortgage rates rise on Iran news, still near three-year low

Core Insights - Mortgage rates have increased slightly, with the 30-year fixed rate averaging 6.15%, up from 6.10% last week [1] - The national median family income for 2025 is projected at $104,200, while the median price of an existing home sold in January 2026 is $396,800, leading to a monthly payment of $1,934, which is about 22% of the typical family's monthly income [3] - Home prices are beginning to decline in many previously hot markets, with half of the nation's 50 largest metro areas experiencing price drops over the past year [4] Mortgage Rate Trends - Current mortgage rates for various loan types include: - 30-year fixed at 6.15%, down from 6.23% four weeks ago and down from 6.72% a year ago - 15-year fixed at 5.47%, down from 5.61% four weeks ago and down from 5.94% a year ago - 30-year jumbo at 6.23%, down from 6.38% four weeks ago and down from 6.86% a year ago [2] Market Conditions - The increase in housing inventory and stabilization of home prices create a favorable environment for buyers and those looking to refinance [5] - The ongoing conflict in Iran has impacted financial markets, leading to a slight increase in mortgage rates, with potential scenarios for future rates depending on the duration and scope of the conflict [6]