Overview
- Surveys put the 30-year fixed near 6%—Zillow at 5.99% and Freddie Mac at 6.15%, the lowest since 2024—with 15-year loans around 5.4%.
- Refinance offers remain higher than purchase rates, with Zillow showing 6.67% for a 30-year refi and 5.64% for a 15-year refi.
- The Fed trimmed rates three times from September to December 2025, totaling 75 basis points, helping pull down long-term yields that shape mortgage pricing.
- Freddie Mac’s Sam Khater called the latest drop encouraging for buyers, though many homeowners remain locked into cheaper existing loans, limiting for-sale supply.
- Markets anticipate two quarter-point Fed cuts in 2026, while Chair Jerome Powell has signaled a wait-and-see stance on further easing.