Mortgage Rates Edge Up Slightly on January 26, 2026, Still Near Recent Lows

Mortgage rates moved slightly higher at the start of the week, stepping up from the recent lows seen earlier in January. Even with this small increase, borrowing costs remain well below where they started in 2025, keeping the door open for both homebuyers and homeowners considering a refinance.

According to data from Zillow’s lender marketplace, the average 30-year fixed mortgage rate now sits at 6.00%, while the 15-year fixed rate is 5.50%. These levels are still considered favorable by recent standards and may offer a solid opportunity to lock in a rate.

Current Mortgage Rates

Based on the latest national averages from Zillow:

• 30-year fixed: 6.00%
• 20-year fixed: 5.98%
• 15-year fixed: 5.50%
• 5/1 ARM: 6.15%
• 7/1 ARM: 6.35%
• 30-year VA: 5.54%
• 15-year VA: 5.14%
• 5/1 VA: 5.18%

Rates shown are national averages and rounded to the nearest hundredth. Your actual rate may vary based on location, credit profile, and lender.

Current Mortgage Refinance Rates

Refinance rates are generally a bit higher than purchase rates, though the gap remains modest:

• 30-year fixed: 6.12%
• 20-year fixed: 6.09%
• 15-year fixed: 5.60%
• 5/1 ARM: 6.39%
• 7/1 ARM: 6.88%
• 30-year VA: 5.59%
• 15-year VA: 5.35%
• 5/1 VA: 5.31%

These figures also reflect national averages.

What a 30-Year Mortgage Looks Like Today

The 30-year fixed mortgage remains the most common option because it offers lower monthly payments spread over a longer term.

For example, a $300,000 loan at 6.00% over 30 years would result in a monthly principal and interest payment of about $1,799. Over the life of the loan, total interest paid would be roughly $347,500, in addition to the original loan amount.

15-Year Mortgage: Faster Payoff, Higher Payments

A 15-year mortgage typically comes with a lower interest rate and much less total interest paid, but higher monthly payments.

Using the same $300,000 loan at 5.50% for 15 years, the monthly payment would be about $2,451. While that’s a bigger monthly commitment, total interest paid drops sharply to around $141,000, saving more than $200,000 compared to a 30-year loan.

Adjustable-Rate Mortgages to Consider

Adjustable-rate mortgages (ARMs) lock in a rate for a set period before adjusting annually. For example, a 5/1 ARM keeps the same rate for five years, then resets each year after that.

ARMs can make sense if you plan to sell or refinance before the adjustment period ends. However, recent ARM rates have often been close to or even higher than—fixed rates, so it’s important to compare offers carefully.

How to Qualify for a Lower Mortgage Rate

To improve your chances of getting a lower rate, lenders generally look for:

• Strong credit scores
• Lower debt-to-income ratios
• Larger down payments

Borrowers can also reduce their rate by paying discount points at closing or using temporary rate buydowns. These options can lower payments early on, but it’s important to make sure the upfront cost makes sense for how long you plan to stay in the home.

Mortgage Rates Today: Key Takeaways

• Mortgage rates moved slightly higher but remain close to multi-month lows
• The 30-year fixed rate is holding at 6.00%
• Both buyers and refinancers still have reasons to stay active
• Shopping multiple lenders remains one of the best ways to secure a better deal

While rates may continue to fluctuate, today’s levels are still far more favorable than a year ago, making this a reasonable window for borrowers who are ready to act. For direct financing consultations or mortgage options for you visit 👉 Nadlan Capital Group.