Mortgage Rates Snapshot: Are We Finally Under 6% for Good?

As 2026 gets rolling, homebuyers and refinancers across the US are watching mortgage rates with high hopes for a sustained break below the 6% level. The latest weekly national average from Freddie Mac sits just above it at 6.16%, but daily lender quotes are showing sub-6% offers for many qualified borrowers already. President Trump's bold new directive for Fannie Mae and Freddie Mac is injecting fresh optimism for lower rates, though the market's overall stability means no guarantees yet.

Current National Mortgage Rate Averages

Freddie Mac's Primary Mortgage Market Survey for the week ending January 8 puts the 30-year fixed-rate mortgage at an average of 6.16%, up one basis point from the prior week's 6.15%. The 15-year fixed averages 5.46%, also edging slightly higher. These numbers come from a broad survey of rates offered to well-qualified borrowers with strong credit and solid down payments, and they've held in a narrow band near 6% since late 2025. That's still a nice drop from 6.93% a year ago, but the key benchmark hasn't consistently dipped under 6% yet.

Daily market data tells a more encouraging story, with real-time lender offerings varying quite a bit. Mortgage News Daily shows the 30-year fixed at around 6.06% as of January 9, down notably in recent sessions due to stronger demand for mortgage-backed securities. Some reports cite averages as low as 5.87% for certain applicants. This spread reminds us that your personal rate hinges on credit score, down payment, loan details, and lender competition — plenty of strong borrowers are locking in below 6% right now.

Key Drivers Behind the Recent Dip

President Trump's January 8 announcement directing Fannie Mae and Freddie Mac to purchase up to $200 billion in mortgage-backed securities from the public market is the big new factor. Federal Housing Finance Agency Director Bill Pulte confirmed the GSEs will handle the buys using their existing liquidity to boost bond demand and help push rates lower. Early market reactions look positive, with some daily rate improvements tied to this news, though the longer-term impact will depend on execution and could bring some ups and downs.

2026 Outlook and Forecasts Projections for the rest of the year lean toward gradual easing, not big plunges. Fannie Mae sees the 30-year fixed averaging around 5.9% by Q4 2026 if inflation stays tame and conditions support it. The Mortgage Bankers Association expects rates closer to 6.3%–6.4% for much of the year. Consensus points to the low-to-mid 6% range hanging around, with risks of short-term increases from policy changes or economic surprises. This setup makes the current levels a reasonable time to act instead of waiting for a perfect drop.

What This Means for Homebuyers and Refinancers Nationwide

These rates create solid opportunities across the country, especially as affordability improves with even small declines. For a $300,000 loan, shifting from 6.16% to a daily quote like 6.06% can save hundreds annually in interest. Refinancing is particularly appealing if your existing rate is higher, but always shop multiple lenders for the best personalized deal based on your full profile.

This is educational info only — not personalized advice. Rates change daily and vary by credit, down payment, location, loan type, and more. Talk to a licensed lender for accurate quotes and consider pre-approval to grab good terms while they're here.

Rates have real potential for more softening in 2026 with this policy push, but staying under 6% for good isn't a sure bet yet. If you're in the market, being ready now could pay off. What's your housing move for the year? Let us know in the comments!