Falling now, American mortgage rates are at their lowest point in over three years. This shift could be particularly significant for those considering buying a home or refinancing an existing loan.
The average 30-year fixed mortgage rate dropped 10 basis points last week to 6.06%, according to Freddie Mac data cited by Yahoo Finance on 15 January 2026. The 15-year fixed rate also declined by eight basis points to 5.38%. These figures represent the most affordable borrowing conditions since the Federal Reserve's aggressive rate hikes pushed mortgage costs to multi-decade highs.
