The average 30-year fixed rate mortgage is 6.19% today, an increase of 0.04% since yesterday. The 15-year fixed mortgage rate stands at 5.35%, up by 0.08%. The 30-year FHA mortgage now averages 5.64%, having risen by 0.08. Meanwhile, the 30-year jumbo mortgage rate is 6.64%, reflecting an increase of 0.04%.
The bigger picture
Yesterday, we said that Wednesday's economic reports might move mortgage rates. But, in the event, they didn't, and those rates drifted only a little lower.
That wasn't because they all came in as markets were expecting. It was just that some beat expectations and others fell short of them. So, they all but canceled each other out.
Today's economic reports are less influential than yesterday's were. And we'd need to see some big gaps between forecasts and actual figures for them to move mortgage rates far. Scroll on down for details of today's scheduled data
However, tomorrow could be very different. That's when we're due December's jobs report, aka the employment situation report.
Thanks to the recent government shutdown, this will be the freshest major data for the labor market we've seen in months. And markets are likely to take it very seriously. We'll be briefing you in detail about the report tomorrow.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.19% | 6.22% | +0.04% | -0.15% |
| 15-Year Fixed | 5.35% | 5.4% | +0.08% | -0.11% |
| 30-Year Fixed FHA | 5.64% | 6.85% | +0.08% | -0.03% |
| 30-Year Fixed VA | 5.73% | 5.87% | +0.05% | +0.01% |
| 30-Year Fixed USDA | 5.63% | 5.77% | +0.04% | -0.13% |
| 30-Year Fixed Jumbo | 6.64% | 6.65% | +0.04% | +0.13% |
| 5/6 Year ARM | 6.04% | 6.08% | +0.05% | -0.12% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.23% | 6.25% | +0.03% | -0.19% |
| 15-Year Fixed | 5.33% | 5.37% | +0.08% | -0.11% |
| 30-Year Fixed FHA | 5.59% | 6.79% | +0.08% | -0.05% |
| 30-Year Fixed VA | 5.77% | 5.91% | +0.04% | +0.02% |
| 5/6 Year ARM | 6.02% | 6.05% | +0% | -0.11% |
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 are four economic reports on today's MarketWatch economic calendar. However, they're ones that only rarely have much impact on mortgage rates.
Today's reports comprise:
- Initial jobless claims for the week ending Jan. 3 — Markets expect 210,000 new claims, slightly worse than the previous week's 199,000
- October trade deficit — Markets expect the deficit to worsen to $58.4 billion, compared with September's $52.8
- Third-quarter productivity — Markets expect that to improve, growing by 4.9%, compared with the second quarter's 3.3%
- November consumer credit — Markets expect this to hold steady at $9.2 billion
Typically, better-than-expected figures cause mortgage rates to rise, while worse-than-expected numbers send them lower. But, as we've said, we'll be surprised if today's reports have much effect.
However, strap in for tomorrow's jobs report!
