MORTGAGE Rates have hit their lowest level in over three years

This came in from Freddy Mac this morning.   If you've been sitting on the sidelines, now's the time to buy your next home.  

Primary Mortgage Market Survey^® (PMMS^®) results are based on the mortgage rate collected from thousands of loan applications submitted to Freddie Mac through Loan Product Advisor^® (LPA^®) from lenders across the country when a borrower applies for a mortgage. Learn more in our FAQs.

Primary Mortgage Market Survey^®

U.S. weekly mortgage rate averages as of 01/15/2026

30-year Fixed-Rate Mortgage

6.06%

15-year Fixed-Rate Mortgage

5.38%

The Average 30-Year Fixed-Rate Mortgage Hits Lowest Level in Over Three Years

Late last week, mortgage rates dropped, driving the weekly average down to its lowest level in more than three years. The impacts are noticeable, as weekly purchase applications and refinance activity have jumped, underscoring the benefits for both buyers and current owners. It appears that housing activity is improving and poised for a solid spring sales season.

• The 30-year fixed-rate mortgage averaged 6.06% as of January 15, 2026, down from last week when it averaged 6.16%. A year ago at this time, the 30-year FRM averaged 7.04%.
• The 15-year fixed-rate mortgage averaged 5.38%, down from last week when it averaged 5.46%. A year ago at this time, the 15-year FRM averaged 6.27%.

​Download Rates Since 1971​xlsx