The average 30-year fixed rate mortgage is 6.02% today, an increase of 0.02% since yesterday. The 15-year fixed mortgage rate stands at 5.25%, up by 0.04%. The 30-year FHA mortgage now averages 5.48%, having risen by 0.01. Meanwhile, the 30-year jumbo mortgage rate is 6.48%, reflecting an increase of 0.02%.
The bigger picture
Average mortgage rates today for 30-year fixed-rate loans start this morning at 5.99%, according to I Can Buy, our preferred source of rates data. Not everyone agrees, and Mortgage News Daily puts the same rate at 6.04%.
Very few people actually pay the average rate. So the numbers don't matter all that much except for their psychological impact.
The fact to take away today is that mortgage rates are at or very near their three-year lows.
Fed minutes and economic data today
Nobody has any idea how long those rates will stay close to today's lows, nor whether their next move will be up or down. The event most likely to change them today is the publication at 2 p.m. Eastern by the Federal Reserve of the minutes of its rate-setting committee's January meeting.The minutes might provide additional insights into committee members' attitudes to future cuts to general interest rates, which they largely control. They don't directly determine mortgage rates, but their policies can affect those.
We're due several economic reports today, though these rarely move mortgage rates far. Even industrial production, which sounds influential, infrequently has much effect on those rates.
Scroll on down for information about today's economic reports, including their possible impact on mortgage rates.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.02% | 6.05% | +0.02% | -0.09% |
| 15-Year Fixed | 5.25% | 5.29% | +0.04% | -0.04% |
| 30-Year Fixed FHA | 5.48% | 6.7% | +0.01% | -0.06% |
| 30-Year Fixed VA | 5.58% | 5.71% | +0.03% | -0.12% |
| 30-Year Fixed USDA | 5.59% | 5.74% | +0.13% | +0.01% |
| 30-Year Fixed Jumbo | 6.48% | 6.5% | +0.02% | -0.16% |
| 5/6 Year ARM | 5.86% | 5.89% | +0.08% | -0.31% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.05% | 6.07% | -0.01% | -0.13% |
| 15-Year Fixed | 5.24% | 5.28% | +0.06% | -0.01% |
| 30-Year Fixed FHA | 5.44% | 6.65% | +-0% | -0.06% |
| 30-Year Fixed VA | 5.6% | 5.74% | +0.03% | -0.15% |
| 5/6 Year ARM | 5.9% | 5.93% | +0.08% | -0.26% |
What's coming up?
Although economic reports are usually the main drivers of changes to mortgage rates, they're not the only ones. The general mood in markets and economically consequential news can also affect those rates. News items concerning employment, inflation, tariffs and deficit funding are especially influential at the moment.
Comerica Bank's preview of the week
Here's the weekly preview from Comerica Bank's economics team from its Monday e-newsletter:
"The first estimate of fourth quarter real GDP will likely report robust output growth, a welcome contrast with last year’s anemic job creation. Both total and core PCE inflation likely picked up slightly in December from November and continue to overshoot the Fed’s two percent target. Personal income and spending likely grew slower in December. Delayed construction and house sales data for November and December will likely show the housing market holding steady at year-end; activity should pick up in 2026 as the rate cuts the Fed made in late 2025 boost demand. The University of Michigan’s consumer survey will likely be revised lower in the February final release to echo The Conference Board’s Consumer Confidence Index®, which hit the lowest in over ten years in January.
"The minutes of the Fed’s January decision will likely show policymakers setting a higher bar for rate cuts in 2026 than in 2025. Since the January jobs report was stronger than expected and PCE inflation is forecast to hold above the Fed’s target, the central bank will likely hold rates steady until Chair Powell’s term ends in May."
Comerica's forecasts often differ from market expectations, which are based on a broader range of forecasts.
Mortgage rates today
There are six main economic reports on today's MarketWatch economic calendar. But it's rare for them to have much effect on mortgage rates. The 2025 government shutdown has delayed some of them.
They are:
- November housing starts — Markets expect 1.31 million starts (annualized), up from October's 1.25 million
- November building permits — Markets expect 1.4 million permits (annualized), down from October's 1.41 million
- December housing starts — Markets expect 1.31 million starts (annualized). November's figure will also appear this morning
- December building permits — Markets expect 1.4 million permits (annualized). November's figure will also appear this morning
- December durable goods orders — Markets expect these to fall by -2.0%, much worse than November +5.3%
- January industrial production — Markets expect this to increase by 0.3%, more slowly than December's 0.4%
Typically, mortgage rates move lower on worse-than-expected data and rise when the numbers are better than expected.
Tomorrow's economic reports are roughly as exciting as today's. But Friday brings both gross domestic product (GDP) numbers and the month's most accurate measure of inflation. And those might affect mortgage rates noticeably.
