Mortgage Rates Today, January 5, 2026: Just Above 6%, With Some Lenders Already in the 5s

Mortgage rates are starting the week slightly above the 6% mark, but borrowers who shop around may already find offers dipping into the mid-5% range. According to data from Zillow, the average 30-year fixed mortgage rate is now 6.01%, while the 15-year fixed rate stands at 5.44%.

These levels reflect a market that has cooled from last year’s highs and is giving buyers and homeowners more room to negotiate. While national averages still hover near 6%, individual lenders are quietly rolling out lower-rate deals for well-qualified borrowers.

Current Mortgage Rates

Here are today’s average mortgage rates based on the latest data:

• 30-year fixed: 6.01%
• 20-year fixed: 5.95%
• 15-year fixed: 5.44%
• 5/1 ARM: 6.23%
• 7/1 ARM: 6.51%
• 30-year VA: 5.52%
• 15-year VA: 5.14%
• 5/1 VA: 5.22%

These figures are national averages and rounded to the nearest hundredth. Your actual rate may be higher or lower depending on credit, income, and lender.

Current Mortgage Refinance Rates

Refinance rates today are slightly higher than purchase rates in most cases:

• 30-year fixed refinance: 6.16%
• 20-year fixed refinance: 5.97%
• 15-year fixed refinance: 5.61%
• 5/1 ARM refinance: 6.32%
• 7/1 ARM refinance: 6.56%
• 30-year VA refinance: 5.74%
• 15-year VA refinance: 5.44%
• 5/1 VA refinance: 5.40%

Refinance rates often run higher than purchase rates, but that’s not always true. Shopping multiple lenders can still uncover better-than-average options.

30-Year Mortgage Rates Today

The average 30-year mortgage rate is 6.01%. This loan term remains the most popular choice because it spreads payments over 360 months, keeping monthly costs lower.

For example, on a $300,000 loan at 6.01%, the monthly principal and interest payment would be about $1,800. Over the life of the loan, total interest would add up to roughly $348,000.

15-Year Mortgage Rates Today

The average 15-year mortgage rate is 5.44%. While the rate is lower, monthly payments are higher because the loan is paid off faster.

Using the same $300,000 loan at 5.44%, the monthly payment would rise to about $2,442, but total interest paid drops sharply to around $139,500. This option can work well for buyers who want to build equity faster and can handle the higher payment.

Adjustable-Rate Mortgage (ARM) Options

With an adjustable-rate mortgage, the interest rate stays fixed for an introductory period and then adjusts over time. A 5/1 ARM, for example, keeps the same rate for five years before adjusting annually.

ARMs often start with lower rates than fixed loans, but the risk is that payments can rise later. They may make sense if you plan to sell or refinance before the adjustment period begins. Recently, some ARM rates have been close to fixed rates, so it’s important to compare carefully.

How to Get a Lower Mortgage Rate

To qualify for the lowest rates, lenders usually look for:

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

Borrowers can also reduce their rate by paying discount points at closing or using a temporary buydown, such as a 2-1 buydown that lowers the rate for the first two years. These strategies can help in the short term, but it’s important to make sure the upfront cost is worth the long-term savings.

Mortgage Rates Today: FAQs

What are mortgage rates today?
Today’s national average 30-year fixed mortgage rate is 6.01%, the 15-year fixed rate is 5.44%, and the 5/1 ARM is 6.23%.

Is 6% a normal mortgage rate right now?
Yes. Rates around 6% are currently considered normal, though some borrowers are finding lower offers depending on lender and credit profile.

Will mortgage rates drop further?
Forecasts suggest only small changes. The Mortgage Bankers Association expects rates to stay near the mid-6% range through 2026, while Fannie Mae sees the 30-year rate easing slightly late next year but staying above 6% for most of the year.

Mortgage rates today are stable, but opportunities are opening up for borrowers who compare lenders closely. With some offers already below the national averages, shopping around could make a meaningful difference in your monthly payment. For direct financing consultations or mortgage options for you visit 👉 Nadlan Capital Group.