Overview
- Average 30‑year purchase quotes are near 5.99% and 15‑year near 5.37%, leaving multiple options below 6% for qualified borrowers, according to daily trackers.
- MBA data for the week ending Jan. 23 show total mortgage applications down 8.5% as the 30‑year contract rate rose to 6.24%; refinances fell 16% and purchase applications edged down 0.4%.
- Markets widely expect the Fed to keep the policy rate at 3.50%–3.75% today, with any near‑term mortgage‑rate moves more likely to follow jobs, inflation data and post‑meeting guidance.
- Recent trade headlines and international bond volatility pushed 10‑year Treasury yields higher, causing a short‑lived mortgage‑rate jump before easing back toward the low‑6% range.
- A White House directive for Fannie Mae and Freddie Mac to buy up to $200 billion in MBS continues to narrow mortgage‑Treasury spreads, supporting lower quotes even as short‑term swings persist.