The average 30-year fixed rate mortgage was 6.2% yesterday, unchanged since the day before. The 15-year fixed mortgage rate stood at 5.42%, up by 0.02%. The 30-year FHA mortgage averaged 5.69% yesterday, having risen by 0.03. Meanwhile, the 30-year jumbo mortgage rate was 6.73%, reflecting a decrease of 0.01%.
The bigger picture
Once again, mortgage rates barely moved yesterday. So far, they are showing few signs of recovering from their big Wednesday rise, which followed threats to raise tariffs on imports from Europe — despite that danger having receded very quickly.
That means Freddie Mac's weekly mortgage rate report yesterday was woefully out of date. "The 30-year fixed-rate mortgage averaged 6.09% as of January 22, 2026, up from last week when it averaged 6.06%."
Yes, 6.09% may have been the Thursday-to-Thursday weekly average, but the daily average was 6.19% that day, according to multiple sources. That's quite a difference.
Today's economic reports might move mortgage rates a bit, but we doubt they'll travel far in response to the new data. However, they could change significantly for other reasons.
For example, the Supreme Court still owes us a decision on the legality of nearly all of 2025's tariffs. And there's always the chance of more tariff bombshells or saber-rattling that could easily roil markets.
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 | 6.2% | 6.23% | +-0% | -0.07% |
| 15-Year Fixed | 5.42% | 5.47% | +0.02% | +0.02% |
| 30-Year Fixed FHA | 5.69% | 6.9% | +0.03% | +0.02% |
| 30-Year Fixed VA | 5.77% | 5.91% | -0.02% | +0.04% |
| 30-Year Fixed USDA | 5.66% | 5.81% | -0.11% | -0.08% |
| 30-Year Fixed Jumbo | 6.73% | 6.74% | -0.01% | +0.34% |
| 5/6 Year ARM | 6.07% | 6.11% | -0.01% | -0.05% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.28% | 6.31% | -0.01% | -0.05% |
| 15-Year Fixed | 5.4% | 5.44% | +0.03% | +0.01% |
| 30-Year Fixed FHA | 5.65% | 6.85% | +0.03% | +0.02% |
| 30-Year Fixed VA | 5.8% | 5.94% | -0.02% | +0.04% |
| 5/6 Year ARM | 6.1% | 6.14% | -0.01% | +0.02% |
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 three economic reports on today's MarketWatch economic calendar. All report January data.
Two are purchasing managers' indices (PMIs) from S&P Global, one for the services sector and one for manufacturing. PMIs gauge activity in organizations' procurement departments, so they can be early indicators of future economic activity. However, S&P PMIs tend to be less influential than those published by the Institute of Supply Management.
Here are what markets are expecting from those three reports:
- January consumer sentiment — Markets expect this index to come in at 54, unchanged from previously
- January services PMI — Markets expect this index to come in at 53.0, slightly better than the previous 52.5
- January manufacturing PMI — Markets expect this index to come in at 52.1, slightly better than the previous 51.8
Mortgage rates tend to fall when figures are lower than expected and rise when they're higher.
Next week's supposedly big event is scheduled for Wednesday afternoon and is the Federal Reserve's decision on interest rates. However, literally no experts are expecting the current rate to change, according to the CME FedWatch tool, which, for the first time we can remember, gives a 100% probability of it staying put. So Fed Day may be a non-event this month.
