Today’s Mortgage Rates, Jan 24: Rates Edge Higher, But 30-Year Fixed Holds Near 6%

Let's talk about where things stand with mortgage rates today, January 24, 2026. If you're thinking about buying a home or perhaps refinancing an existing mortgage, you'll be happy to hear that today's mortgage rates are still sitting pretty comfortably, very close to their lowest points over the last three years. While we’ve seen a tiny bump this week, the overall picture for January has been one of remarkable stability, with only the smallest waves of change day to day.

Today's Mortgage Rates, Jan 24: Rates Edge Higher, But 30-Year Fixed Holds Near 6%

Where We Stand Today: The Numbers

It’s always good to see the actual figures, right? Here’s a breakdown of the rates and Annual Percentage Rates (APR) you can find through Zillow Home Loans right now:

When you look at these numbers, remember that the “Interest Rate” is what the lender charges on the loan's principal. The “APR,” however, gives you a more complete picture because it includes certain fees and costs, like points, which are essentially upfront payments you make to the lender to lower your interest rate. That's why the APR is usually a bit higher than the interest rate. Always consider both when you're shopping around.

A Quick Peek Back: How This Week Added Up

So, what’s changed since last week? It’s not much, honestly, but it’s worth noting. Both the 30-year and 15-year fixed mortgage rates have nudged up slightly:

Now, a 0.09% increase might seem like pocket change, but I’ve been in this business long enough to know that even these small shifts can make a difference for folks trying to buy their dream home or trying to save some money by refinancing.

What Does That Tiny Jump Really Mean for Your Wallet?

Let’s paint a picture. Imagine you’re looking to refinance a $300,000 loan with a 30-year fixed mortgage.

• If the rate was 5.90%, your principal and interest payment each month would be roughly $1,902.
• Now, with the rate at 5.99%, that payment creeps up to about $1,911.

That's a difference of $9 each month. Over a year, it adds up to about $108 more. But stretch that out over the entire 30-year loan term, and you’re looking at paying over $3,200 more in interest. See? Even small percentage points can add up to significant sums over time. This is why it’s so critical to understand the long-term impact.

Why Do These Seemingly Small Changes Pack a Punch?

It’s all about affordability and overall loan cost. For someone taking out a significant mortgage, like $500,000 or more, even a tenth of a percent can mean hundreds of dollars more on their monthly payment and tens of thousands more over the life of the loan. If you’re on the fence about refinancing right now, it’s the perfect time to run the numbers and see if the savings still make sense, or if it's better to hold tight for another potential dip.

What’s Going On Under the Hood? Why the Fluctuations?

You might be wondering what causes these rates to move around, especially since the Federal Reserve’s actions don't directly control mortgage rates. It’s a bit like other markets – think stock prices or even gas prices – mortgage rates are influenced by supply and demand in the broader financial world.

Here’s a look at the key drivers that make today's mortgage rates the way they are:

• The Bond Market: Mortgage rates are really closely tied to the yields on U.S. Treasury bonds, especially the 10-year Treasury. When investors feel good about the economy, they might move their money out of bonds, causing yields to rise. Lenders then have to offer higher mortgage rates to compete for that investment money.
• Demand for Mortgage-Backed Securities (MBS): Most home loans get packaged together and sold as securities to investors. If there’s a lot of appetite for these MBS, lenders can afford to offer lower rates. If demand cools off, they have to raise rates to make them attractive again.
• Economic News: Every report that comes out – like inflation numbers (CPI), job growth figures, or how fast the economy is growing (GDP) – gives us clues about the economy's health. Good economic news often means rates go up, and signs of a slowdown can mean they go down.
• Global Events: Believe it or not, what's happening in other parts of the world can impact your mortgage rate here. If there’s political instability or a financial crisis somewhere else, investors often rush to buy U.S. Treasury bonds as a safe haven. This increased demand can push Treasury yields—and thus mortgage rates—down.
• Lender Capacity: Sometimes, individual mortgage companies might adjust their rates simply because they're swamped with applications or have a specific volume they're trying to hit for the day or week.

What Experts Are Saying for 2026

Despite these daily tugs and pulls, the general outlook for today's mortgage rates and the rest of 2026 remains promising for borrowers. There’s a general consensus among many housing economists, including those at big names like Fannie Mae and Morgan Stanley, that we'll continue to see rates hover around the 6% mark, or possibly even a little lower, for much of the year. The Federal Reserve is also expected to keep its key interest rates steady for now, meaning mortgage rates will likely continue to find their direction from those other market forces we just discussed.

While there was some chatter about threatened tariffs causing a bit of market jitpidness, leading to this week's slight increase, the underlying trend shows resilience. It’s this mix of stability and slight movement that keeps things interesting, but still firmly in borrower-favorable territory.

In a Nutshell

So, as of January 24, 2026, you can still secure a mortgage with a rate that’s considered historically low. The slight uptick this week isn't a cause for alarm; it's just the market doing its usual dance. If you're in the market for a home or thinking about refinancing, it's definitely a smart time to be exploring your options and seeing how you can best take advantage of these favorable conditions.