The average 30-year fixed rate mortgage is 5.97% today, a decrease of 0.04% since yesterday. The 15-year fixed mortgage rate stands at 5.28%, down by 0.01%. The 30-year FHA mortgage now averages 5.45%, having dropped by 0.05. Meanwhile, the 30-year jumbo mortgage rate is 6.5%, reflecting no change.
The bigger picture
Last month, we repeatedly raised the pending Supreme Court judgment on the legality of 2025's tariffs as a possible influence on mortgage rates. But the ruling never came, and eventually, we grew bored of repeating ourselves and assumed readers were finding the repetition as tedious as we were.
Then, on Friday morning, the judgment landed with a loud bang. Stocks and bonds responded at first, but soon digested the news and settled down. By the end of the day, stock prices and bond yields were only slightly higher than they'd been first thing that morning. That day's disappointing economic reports may have balanced out some of the ruling's impact.
The change in mortgage rates was even smaller, with ICanBuy showing the average rate for a 30-year fixed-rate loan at 6.01%, up from Thursday evening's 6.00%.
This week
So, we start this week with mortgage rates at their lowest point (leaving aside Thursday) since September 2022. And there's little on the calendar that's likely to move them far.
Of course, a lack of influential economic reports doesn't necessarily mean those rates will remain flat. Unscheduled events could certainly move them.
And we're already facing some of those. On Friday evening, after markets closed, the president used a different law from the one SCOTUS barred to introduce a 10% tariff on all U.S. imports.
On Saturday morning, he increased that tariff rate to 15%. We'll have to wait to see what markets make of these moves.
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 | 5.97% | 6% | -0.04% | -0.22% |
| 15-Year Fixed | 5.28% | 5.33% | -0.01% | -0.11% |
| 30-Year Fixed FHA | 5.45% | 6.67% | -0.05% | -0.2% |
| 30-Year Fixed VA | 5.57% | 5.71% | -0.05% | -0.18% |
| 30-Year Fixed USDA | 5.59% | 5.74% | +0% | -0.07% |
| 30-Year Fixed Jumbo | 6.5% | 6.51% | +0% | -0.21% |
| 5/6 Year ARM | 5.91% | 5.94% | -0.01% | -0.19% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.03% | 6.05% | -0.03% | -0.24% |
| 15-Year Fixed | 5.28% | 5.31% | +0.02% | -0.07% |
| 30-Year Fixed FHA | 5.42% | 6.63% | -0.05% | -0.19% |
| 30-Year Fixed VA | 5.6% | 5.73% | -0.05% | -0.21% |
| 5/6 Year ARM | 5.9% | 5.92% | -0.02% | -0.25% |
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.
Mortgage rates today
There is just one economic report on today's MarketWatch economic calendar. It shows factory orders in December, and markets expect it to reveal growth of 0.2%, much slower than November's 2.7%.
Typically, mortgage rates move lower on worse-than-expected data and rise when the numbers are better than expected.
