What are today's mortgage interest rates: January 9, 2026?
It wasn't that long ago that the idea of securing a mortgage rate under 6% seemed impossible. It was just January 2025, for example, when the average rate for a 30-year term sat above 7%. And that followed years of high mortgage rates, at one point hitting the highest level in decades. But there's been material progress since this point last year, thanks in large part to a consistent interest rate-cut campaign from the Federal Reserve. Mortgage rates, in turn, have responded positively.
This is great news for both homebuyers and owners looking to refinance their existing rate. And while rates are still far from the historic lows that were typically available at the start of the decade, they're also considerably lower than what was offered for much of 2023, 2024 and even in 2025. And if Fed rate cuts resume later this year (there's another meeting on the calendar for the end of the month), rates could decline again, perhaps even before the next cut is formally announced.
So, what are today's mortgage interest rates as of January 9, 2026? Below, we'll detail what you can expect to see listed online and with your local lender.
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What are today's mortgage interest rates?
The average mortgage interest rate on a 30-year term is 5.87%, according to Zillow, as of January 9, 2026. That's lower than the 5.99% rates had been consistently sitting at in recent weeks and could open up new, more affordable opportunities for buyers right now.
The average mortgage purchase rate for a 15-year term also declined to 5.25%, making that short-term option a bit more affordable than it's been recently, too. And with these just being the average rates, buyers with good credit scores and larger down payments may be able to find even lower rates by shopping around online right now.
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What are today's mortgage refinance rates?
The median refinance rate for a 30-year mortgage is 6.49%, according to Zillow, as of January 9, 2026. The average refi rate for a 15-year mortgage is now 5.56%. While these may represent real savings opportunities for select homeowners, it's important to remember that mortgage refinancing comes with closing costs in the same way a mortgage purchase does.
So, you'll need to weigh those expenses against the savings you can secure each month with a lower rate to better determine the value of acting now versus waiting for rates to potentially decline further. And, if you're thinking of selling your home in the short term, you'll have to consider that timeline, too. You don't want to pay for mortgage refinancing costs before you've had a chance to break even on those expenses.
The bottom line
The average mortgage interest rate on a 30-year mortgage is 5.87% as of January 9, 2026, and it's 5.25% for a 15-year option. The median refinance rate for a 30-year mortgage is currently 6.49% and 5.56% for 15-year alternatives. So there are multiple ways in which one can secure a mortgage rate under 6% right now. And that may be more than enough to take the next steps on your homeownership journey.
