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Mortgage Rate Watch
Mortgage Rates Sidestep Into The Weekend
While there was certainly plenty of volatility elsewhere in the financial market this week, there was almost none to be found in mortgage rates. Wed, Thu, and Fri all recorded the exact same level in MND's 30yr fixed rate index--something that only happens a few times every year. Rates are based on bonds and bonds are waiting for more serious inspiration after undergoing a bit of elevated volatility at the beginning of last week. The present week has been all about consolidating and settling into a narrower range as we wait for the more important economic data on deck next week.
Friday, January 30, 2026 9:10:00 PM UTC
Mortgage Rates Hold Steady Despite Volatility in Other Markets
Sometimes being tuned into daily mortgage rate changes means coming across other news about financial markets. In today's case, that could expose you to anything from the massive selling of certain stocks earlier in the day or the unprecedented trading levels in various commodities. While the financial market buzz may be centered on silver and gold (and Microsoft, today), mortgage rates drifted quietly sideways. That's no surprise considering rates are based on trading in the bond market and bonds were roughly unchanged. This keeps the average top tier 30yr fixed rate at 6.16%. Apart from the week of Jan 12-16th, this is right in line with the lowest levels going back to early 2023.
Thursday, January 29, 2026 8:59:00 PM UTC
Mortgage Rate Winning Streak Ends, But Just Barely
On some occasions, a rate announcement from the Federal Reserve (even one that results in no change to the Fed Funds Rate) can cause a huge move in mortgage rates. Today was not one of those days, but in its defense, it was never that likely to be. In order for a Fed announcement to have a big impact, it has to surprise the market in some way. A rate cut (or absence thereof) is rarely a surprise these days. Instead, the market is more likely to receive new information via the Fed's economic projections and the Chair's press conference. Economic projections come out every other meeting and this wasn't one of them. So any chance of excitement rested with Powell's press conference. But Powell stayed perfectly on-script, striking a balance between hope and caution. Financial markets agreed. There was essentially no reaction to any of today's Fed events in stocks or bonds. Flat bonds = flat mortgage rates all else equal. Today's average rate was microscopically higher than yesterday's, but that happened well before the Fed announcement and not for any specific reasons.
Wednesday, January 28, 2026 8:51:00 PM UTC
Mortgage Rate Winning Streak Continues
Today was the 5th day in a row where mortgage rates moved at least a little bit lower. While rate movement is often the product of obvious underlying motivations in the economy or news headlines, today's was small enough to obviate any intense investigation. It's just as well considering such an investigation would have a hard time establishing any compelling causality. Translation: it was a fairly boring day for the bond market and mortgage rates serendipitously inched slightly lower.
Tuesday, January 27, 2026 8:40:00 PM UTC
Lowest Mortgage Rates in Just Over a Week
Mortgage rates trickled modestly lower again today for the 4th straight business day on Monday. The average top-tier 30yr fixed rate is the lowest it's been since January 16th. The only catch is that it was quite a bit lower 2 weeks ago. Compared to today's mark of 6.17% on MND's daily rate index, mid-January lows ranged from 5.99 to 6.07%. Note: in the following chart, 6.01 is the lowest mark, but in intraday terms, January 9th saw 5.99 for the better part of the day. [thirtyyearmortgagerates] There were no major source of volatility today and the week ahead is generally lacking in terms of potential sources. Even Wednesday's Fed announcement is unlikely to have much of an impact this time around as the outcome is already fully priced in by financial markets. Specifically, the Fed is not cutting rates at this meeting and there's not much they can say that hasn't already been said multiple times in recent Fed speeches.
Monday, January 26, 2026 8:20:00 PM UTC
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