What are today's mortgage interest rates: January 14, 2026?
Spring is typically considered the best time of year to purchase a home. The weather is warmer, house hunting is inevitably easier and inventory tends to increase during the season. And, if a home is ultimately selected and closed on, buyers can frequently move in during the summer months when school is out and vacation is plentiful. However, this winter, homebuyers may actually want to reconsider their timing.
Mortgage interest rates declined considerably in 2025, primarily due to three consecutive interest rate cuts by the Federal Reserve. And they could decline again in the months ahead should these conditions persist. At the same time, rates here may already be low enough to justify taking action, especially for those buyers who were being offered rates over 7% just a year or so ago. Now, there are multiple ways in which one can secure a rate comfortably under 6%.
So, what are today's mortgage interest rates, as of January 14, 2026? Below, we'll detail everything to know to best inform your next move.
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What are today's mortgage interest rates?
The average mortgage interest rate on a 30-year term is 5.99%, as of January 14, 2026, according to Zillow. The median rate on a 15-year term is 5.25%, where it's been sitting for a few days now. But with these being just the averages, buyers with good credit scores who are willing to shop around for rates may be able to find ones substantially lower.
Shopping around for mortgages has been shown to save buyers between 0.50% to 1.00% off their rate, which can easily add up to thousands of dollars saved over the life of the loan. So, if these rates are close to what you need to justify taking action, now may be a good time to start looking around online to see what you specifically qualify for.
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What are today's mortgage refinance rates?
The median mortgage refinance rate on a 30-year term is 6.52%, as of January 14, 2026, according to Zillow. The average refi rate on a 15-year term is currently 5.62%. For some owners, then, the new 30-year rate could be significant, especially for those who purchased a home with a rate over 7% in recent years. And remember, again, that these are just averages and if owners shop around or are willing to purchase mortgage points, they may be able to find rates even lower than those listed online today.
The bottom line
As of January 14, 2026, the average mortgage interest rate on a 30-year term sits at 5.99% while a 15-year option is just 5.25%. The average refinance rate on a 30-year term, meanwhile, is now 6.52% and 5.62% for a 15-year alternative. And while all of these are elevated compared to the historic lows from the start of the decade, they're about in line with what buyers and owners could have expected to be offered in the past. So don't compare today's rates against the anomalies of 2020 and 2021. Instead, crunch the numbers to make sure these rates comfortably fit your budget now and, if they do, start speaking with lenders to see what you can actually qualify for.
