30-year mortgage rates increase ahead of Fed meeting | Today's mortgage and refinance rates, January 26, 2026

Mortgage rates rose according to Bankrate data. Rates for 30-year fixed, 5/1 ARMs and jumbo loans moved higher.

Mortgage rates have moved around recently with the global economy in flux. According to Nicole Rueth, market and mortgage advisor at Movement Mortgage, plenty of recent news has caused rates to rise.

“Mortgage rates jumped to 6.21% after global markets digested Davos headlines, Japan’s debt volatility and the threat of EU countries selling off U.S. Treasury bonds,” said Rueth on Jan. 21. “While the $200B MBS [mortgage-backed securities] buy helped narrow spreads and temporarily anchor rates, geopolitical pressure is now pulling them higher. We’re still in a tight range, but that range is drifting up.”

Heading into next week’s Fed meeting, the general consensus is that the Federal Open Market Committee (FOMC) will hold interest rates where they are. Even if the Fed holds its benchmark rate steady, mortgage rates could still move as rates are more directly tied by 10-year Treasury bond yields.

“Although the Fed is widely expected to hold policy rates steady, uncertainty around forward guidance – along with increased geopolitical risk – will continue to place upward pressure on long-term rates,” said Sean Salter, associate professor of finance at Middle Tennessee State University.

The FOMC’s next meeting ends on January 28 where Fed Chair Jerome Powell will announce the committee’s rate decision, as well as give an overview of the current economic outlook.

Rates as of 01/26/2026.

Today's average 30-year fixed-mortgage rate is 6.20 percent, an increase of 0.09 basis points over the last week. This time a month ago, the average rate on a 30-year fixed mortgage was higher, at 6.29 percent.

At the current average rate, you'll pay $73.50 for every $100,000 you borrow. That's up $0.70 than it would have been last week.

The average rate for the benchmark 15-year fixed mortgage is 5.57 percent, up 0.10 basis points over the last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost approximately $98.50 per $100,000 borrowed. That may put more pressure on your monthly budget than a 30-year mortgage would, but it comes with some big advantages: You'll save thousands of dollars over the life of the loan in total interest paid and build equity much faster.

The average rate on a 5/1 ARM is 5.48 percent, up 0.03 basis points over the last week.

Adjustable-rate mortgages, or ARMs, are mortgage loans that come with a floating interest rate. To put it another way, the interest rate can change periodically throughout the life of the loan, unlike fixed-rate mortgages. These types of loans are best for those who expect to sell or refinance before the first or second adjustment. Rates could be materially higher when the loan first adjusts, and thereafter.

Monthly payments on a 5/1 ARM at 5.48 percent would cost approximately $67.98 for each $100,000 borrowed over the initial five years, but could climb hundreds of dollars higher afterward, depending on the loan's terms.

The average jumbo mortgage rate is 6.44 percent, up 0.04 basis points from a week ago. Last month on the, the average rate on a jumbo mortgage was lower, at 6.57 percent.

At the current average rate, you'll pay $0.32 per month in principal and interest for every $100,000 you borrow. That's up $0.32 over what you would have paid last week.

The average 30-year fixed-refinance rate is 6.56 percent, unchanged 0.00 basis points from a week ago. Last month on the, the average rate on a 30-year fixed refinance was lower, at 6.63 percent.

At the current average rate, you'll pay $67.98 per month in principal and interest for every $100,000 you borrow. That's up $0.03 per $100,000 compared to last week.

Today's mortgage rates have eased from the peaks reached at the beginning of 2025, which reached 7.19% for a 30-year fixed mortgage and 6.40% for a 15-year fixed, according to Bankrate data.

Learn more: Mortgage rate history: 1970s to today

If you're shopping for a mortgage now, here are some tips to help you get the best rate available:

• Improve your credit score. While you can get a mortgage with a lower score, the best rates go to borrowers with a score of 780 or higher. Here are some ways to help increase your score before you apply for a mortgage.
• Raise your down payment. If you're buying a home and able to afford it, consider making a higher down payment. You'll borrow less and get a lower rate.
• Shop around. Compare mortgage offers from at least three different lenders.
• Lock your rate. If you were preapproved for an attractive rate, but you think rates might rise before you find a home, consider locking in your offer or inquiring about a float-down option. With the latter, you'll lock in your lower rate now, but you can get an even lower rate if prevailing rates fall.

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• Compare current mortgage rates for today

The mortgage rates in this story are derived from our national rate and APR averages. Bankrate's mortgage rates include these national rate and APR averages; Bankrate Monitor (BRM) National Index rate averages; and “top offers”:

• National rate and APR averages: Displayed as daily and weekly averages, these rates and APRs are primarily collected from the 5 largest banks and thrifts across hundreds of markets in the U.S.
• Bankrate Monitor (BRM) National Index rate averages: Reported weekly, this long-standing survey collects rates from banks and thrifts across hundreds of markets in the U.S.
• "Top offers": Displayed daily and weekly, these are an average of the rates listed first on our rate tables as advertised by our partners. The averages shown are based on the loan type and term selected.

You can compare national average mortgage rates to top offers to see how much you could save when shopping on Bankrate. Learn more about Bankrate's how we collect, display and report mortgage rates.