30-Year Mortgage Rates Hold Near Three-Year Lows at 6.10%
Event summary
- 30-year fixed-rate mortgage averaged 6.10% as of January 29, 2026, up slightly from 6.09% last week but down from 6.95% a year ago.
- 15-year fixed-rate mortgage averaged 5.49%, up from 5.44% last week but down from 6.12% a year ago.
- Freddie Mac reports steady increase in purchase applications and rise in refinance applications over the past year.
- Sam Khater, Freddie Mac’s Chief Economist, attributes the trend to lower rates and strong income growth.
The big picture
The steady mortgage rates near three-year lows reflect broader economic conditions favoring homebuyers and refinancers. Freddie Mac’s data suggests a stabilizing housing market, with lower rates and income growth driving increased activity. The trend could signal a shift in market dynamics, particularly if sustained over multiple quarters.
What we're watching
- Housing Demand
- How sustained lower mortgage rates will affect homebuyer activity and market entry.
- Refinancing Wave
- Whether the rise in refinance applications can be maintained as rates stabilize.
- Economic Indicators
- The pace at which income growth and other economic factors support housing affordability.
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