The average 30-year fixed rate mortgage is 6.17% today, an increase of 0.01% since yesterday. The 15-year fixed mortgage rate stands at 5.37%, up by 0.01%. The 30-year FHA mortgage now averages 5.62%, having stayed the same. Meanwhile, the 30-year jumbo mortgage rate is 6.61%, reflecting a decrease of 0.01%.
The bigger picture
Mortgage rates barely moved yesterday, according to data from ICanBuy. Yesterday's economic reports lacked the influence to send them perceptibly higher or lower.
Yesterday afternoon, MarketWatch asked five mortgage industry professionals what they expected from mortgage rates in the coming month and beyond. They all expected ups and downs that would bring those rates roughly back to where they are now.
But, correctly, there was caution about their predictions. "There are so many forces at play that impact rates, such as geopolitical issues, economic data and more," Melissa Cohn, 43-year mortgage industry veteran and regional vice president of William Raveis Mortgage, told MarketWatch. In other words, even the experts have limited confidence in their forecasts.
Economic reports
This morning brings this week's likely star report, the producer price index (PPI). All inflation reports have the potential to move mortgage rates, including this one.However, this morning's PPI has been delayed by a month due to the recent government shutdown, so its data is fairly stale. And all PPIs are in the second tier of price indices. So, it will probably take some shocking figures to move mortgage rates far.
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 | 6.17% | 6.2% | +0.01% | +0.02% |
| 15-Year Fixed | 5.37% | 5.41% | +0.01% | +0.05% |
| 30-Year Fixed FHA | 5.62% | 6.83% | +0% | +0.02% |
| 30-Year Fixed VA | 5.72% | 5.86% | +0.01% | +0.01% |
| 30-Year Fixed USDA | 5.61% | 5.76% | -0.02% | +0% |
| 30-Year Fixed Jumbo | 6.61% | 6.63% | -0.01% | -0.04% |
| 5/6 Year ARM | 6.06% | 6.1% | +0.06% | +0.06% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.23% | 6.25% | +0.02% | +0.03% |
| 15-Year Fixed | 5.32% | 5.36% | -0.02% | +0.01% |
| 30-Year Fixed FHA | 5.58% | 6.79% | +0.01% | +0.03% |
| 30-Year Fixed VA | 5.77% | 5.9% | +0% | +0% |
| 5/6 Year ARM | 6.06% | 6.09% | +0.06% | +0.04% |
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
The main economic report on today's MarketWatch economic calendar is December's producer price index (PPI). We'll be surprised if it moves mortgage rates much unless it contains wildly unexpected figures.
Market expectations are published for only two of the four headline figures with no year-over-year forecasts:
- December PPI — Markets expect a slight uptick in the rate of price rises, to 0.3% from November's 0.2%
- December core PPI (excludes food and energy prices) — Markets expect the same small December increase for core PPI prices: 0.3% from November's 0.2%
Typically, mortgage rates move downward when actual figures are lower than markets expected. Conversely, they often move higher on better-than-expected numbers. When data matches expectations (or the reports lack influence, as today's probably will), those rates rarely move.
