The average mortgage refinance rate on a 30-year term is now 6.75%, as of January 8, 2026, according to Zillow. The median refi rate for a 15-year term increased overnight, moving from 5.50% to 5.72%. So there may be some limited but valuable opportunities for current homeowners with these new options.

The current average mortgage rate on a 30-year fixed mortgage is 6.18%, compared to 6.16% a week earlier, according to the Mortgage Research Center. For borrowers who want a shorter mortgage, the average rate on a 15-year fixed mortgage is 5.

Mortgage applications decreased by 1.8% last week, with FHA refinance applications rising 12% due to favorable rates. Despite a decline in conventional and VA applications, FHA's strong performance highlights shifting trends in the mortgage market.

Fifteen-year mortgage rates fell to a one-month low today. Currently, the average interest rate on a 30-year fixed mortgage is 6.14%, compared to 6.15% a week ago, according to the Mortgage Research Center.

Mortgage and refinance interest rates today, January 7, 2026 and will it fall more soon remains a key question for buyers and homeowners. Rates show small weekly changes. This explainer covers mortgage rates,

Home equity loan interest rates declined in 2025. Here's what can be considered to be a "good" loan rate in 2026.

Mortgage Research Center. The 15-year, fixed-rate refinance mortgage average rate is 5.28%. For 20-year mortgage refinances, the average rate is 5.99%. Related: Compare Current Refinance Rates 30-Year Refinance Rates Climb 0.