{"id":23190,"date":"2026-02-04T21:01:23","date_gmt":"2026-02-04T21:01:23","guid":{"rendered":"https:\/\/incredipros.com\/?p=23190"},"modified":"2026-02-04T21:01:23","modified_gmt":"2026-02-04T21:01:23","slug":"mortgage-rates-rise-but-remain-near-three-year-low","status":"publish","type":"post","link":"https:\/\/incredipros.com\/?p=23190","title":{"rendered":"Mortgage Rates Rise But Remain Near Three-Year Low"},"content":{"rendered":"
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\n Image by PM Images\/Getty Images; Illustration by Hunter Newton\/Bankrate\n <\/p>\n<\/p><\/div>\n

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\n Mortgage rates rose this week, with the 30-year fixed rate averaging 6.23%, up from 6.18% last week, according to Bankrate\u2019s latest lender survey.<\/p><\/div>\n<\/p><\/div>\n

Current mortgage rates<\/h2>\n
\n\n\n\n\n\n\n\n
Loan type<\/th>\nCurrent<\/th>\n4 weeks ago<\/th>\nOne year ago<\/th>\n52-week average<\/th>\n52-week low<\/th>\n<\/tr>\n<\/thead>\n
30-year<\/td>\n6.23%<\/td>\n6.24%<\/td>\n7.02%<\/td>\n6.58%<\/td>\n6.18%<\/td>\n<\/tr>\n
15-year<\/td>\n5.61%<\/td>\n5.64%<\/td>\n6.21%<\/td>\n5.80%<\/td>\n5.49%<\/td>\n<\/tr>\n
30-year jumbo<\/td>\n6.38%<\/td>\n6.42%<\/td>\n7.03%<\/td>\n6.65%<\/td>\n6.31%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The 30-year fixed mortgages in this week\u2019s survey had an average total of 0.33 discount and origination points. Discount points are a way to lower your mortgage rate, while origination points are fees lenders charge to create, review and process your loan.<\/p>\n

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\n Shop smarter for mortgage rates
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Bankrate connects you to the latest lender offers, tailored to you. Find your low rate today.<\/p>\n

Explore mortgage rates<\/p><\/div>\n<\/div>\n

Monthly mortgage payment at today\u2019s rates<\/h2>\n

The national median family income for 2025 was $104,200, according to the U.S. Department of Housing and Urban Development, and the median price of an existing home sold in December 2025 was $405,400, according to the National Association of Realtors. Based on a 20% down payment and a 6.23% mortgage rate, the monthly principal and interest payment of $1,993 amounts to about 23% of the typical family\u2019s monthly income.<\/p>\n

Meanwhile, home prices have begun to dip in many formerly hot markets. Half of the nation\u2019s 50 largest metro areas exprienced price declines over the past year, Zillow reported in early February. \u201cWith more housing inventory coming online and home prices starting to level off, this remains a promising environment for those looking to buy or refinance,\u201d says Samir Dedhia, CEO of One Real Mortgage.\u00a0\u00a0<\/p>\n

What will happen to mortgage rates in 2026?<\/h2>\n

Last week, the Federal Reserve announced that it would hold its benchmark interest rate steady, as expected by industry experts. \u201cUntil there is further economic data to support another rate cut, they will keep the fed funds rate as is,\u201d says Melissa Cohn of William Raveis Mortgage.<\/p>\n

The central bank doesn\u2019t directly set mortgage rates, which are at levels not seen since 2022. \u201cEven without a cut, mortgage rates are nearly a full percentage point lower than they were a year ago, when rates hovered around 6.9%,\u201d says Bill Banfield of Rocket Mortgage.<\/p>\n

One reason rates have dipped: President Donald Trump\u2019s announcement that he directed mortgage giants Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed securities. Mortgage rates, already at a 15-month low of 6.24% before Trump\u2019s Truth Social post in early January, fell to 6.18% in Bankrate survey three weeks ago. However, that action hasn\u2019t led to a sustained decline in mortgage rates.<\/p>\n

Sean Salter, a finance professor at Middle Tennessee State University, said Trump\u2019s policy move would create \u201ca temporary and limited reduction in mortgage rates\u201d:\u00a0\u201cUnless there is coordination with and support from monetary-policy actions via the Federal Reserve, and\/or fiscal-policy actions from Congress, the effects of Trump\u2019s announcement will likely not be highly impactful or long-lasting.\u201d<\/p>\n

Fannie and Freddie are the\u00a0government-sponsored enterprises\u00a0that back about two-thirds of U.S. home loans. Those mortgages are packaged as securities and sold to the Federal Reserve, pension funds and other institutional investors. So, while your home loan might be originated by a lender such as Rocket, loanDepot or Wells Fargo, or by an independent mortgage broker, it soon is turned into a mortgage bond owned by an investor. If the government steps in and buys additional bonds based on mortgages, the increased demand for home loans could lead to lower rates.<\/p>\n

The consensus now is that mortgage rates will drift slightly lower. Fannie Mae\u2019s January 2026 Housing Forecast predicts that rates will sit at 6% for most of 2026 and 2027.<\/p>\n