Mortgage applications continued to ride the waves from last week's dip in rates, extending the surge that followed early-January rate volatility. The Mortgage Bankers Association (MBA) reported that applications rose 14.1% for the week ending January 16, adding to the prior week’s sharp increase. Refinance demand again led the way. The Refinance Index climbed 20% from the previous week and was 183% higher than the same week one year ago, marking the strongest weekly pace since September. The magnitude of the increase underscores the widely publicized (but oh so temporary) news that intraday 30yr fixed rates dipped just below 6% for the first time in years. “Mortgage rates declined further last week, driving another big week for refinance applications,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “These movements prompted greater refinance activity from conventional and VA borrowers, with refinance applications accounting for more than 60 percent of total volume.” The rate rally was swift enough to spill over to purchase demand--a tall order in the world of mortgage apps. The Purchase Index rose 5% week-over-week, while unadjusted purchase applications increased 12% and were 18% higher than the same week one year ago. The refinance share of total applications increased to 61.9% from 60.2% the prior week. ARM share edged up to 7.1% . FHA share fell to 15.9% from 19.2%, while VA share increased slightly to 16.2%. USDA share was unchanged at 0.4%.

January 23, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.19% +0.00%   6.01% 7.13% 15 Yr. Fixed 5.76% +0.00%   5.55% 6.52% 30 Yr. Jumbo 6.38% +0.00%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Jan 23, 2026 Mortgage Rates Close Out Extremely Flat Week Fri, Jan 23, 2026 2:49PM This week's only real mortgage rate movement was seen at the outset on Tuesday morning (Monday was closed for the holiday) in response to geopolitical issues and tariff escalation potential. Rates recovered only modestly when those threats abated--a fact that had everything to do with the bond market refusing to return to last week's levels and nothing to do with any mortgage-specific issue. If anything, the mortgage market is in the midst of stunning outperformance relative to the Treasury benchmarks. Take the ubiquitous 10yr Treasury yield, for example, which is still closer to its highest ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.19% 0.00 0.00 15 Yr. Fixed 5.76% 0.00 0.00 30 Yr. FHA 5.85% -0.01 0.00 30 Yr. Jumbo 6.38% 0.00 0.00 7/6 SOFR ARM 5.71% 0.00 0.00 30 Yr. VA 5.87% -0.01 0.00 Updates Daily - Last Update: 1/23 Freddie Mac Rate Change Points 30 Yr. Fixed 6.09% +0.03 0.00 15 Yr. Fixed 5.44% +0.06 0.00 Updates Weekly - Last Update: 1/22 Mortgage Bankers Assoc. 30 Yr. Fixed 6.18% -0.07 0.56 15 Yr. Fixed 5.60% -0.04 0.61 30 Yr. Jumbo 6.42% +0.10 0.43 Updates Weekly - Last Update: 1/14 UMBS 30YR 5.0 99.94 +0.06   95.71 100.50 UMBS 30YR 5.5 101.33 +0.05   98.11 101.64 10 YR Treasury 4.229 -0.014   3.932 4.630 Mostly Sideways to Start. Light Econ Calendar Fri, Jan 23, 2026 9:41AM Bonds rallied modestly in the overnight session. There were no notable spikes in volume or volatility--just a gradual grind that took 10yr yields roughly 2bps lower by 8am ET.  Volume picked up at the 8:20am CME open (as it usually does) and this time it brought more sellers. The net effect is a return to unchanged levels, for the most part.  There... (read more) MBS Price Change UMBS 4.5 97.95 +0.08 UMBS 5.0 99.94 +0.06 UMBS 5.5 101.33 +0.05 GNMA 4.5 97.65 +0.08 GNMA 5.0 99.88 +0.11 GNMA 5.5 100.99 +0.06 Pricing as of: 1/24 3:05AM EST US Treasury Yield Change 2 YR Treasury 3.598 -0.003 5 YR Treasury 3.824 -0.019 7 YR Treasury 4.022 -0.015 10 YR Treasury 4.229 -0.014 30 YR Treasury 4.831 -0.003 Pricing as of: 1/24 3:05AM EST Other News Unsurprising Surge in Refi Demand Pushes Mortgage Apps Past 3 Year High Fri, Jan 23, 2026 2:27PM Mortgage applications continued to ride the waves from last week's dip in rates, extending the surge that followed early-January rate volatility. The Mortgage Bankers Association (MBA) reported that applications rose 14.1% for the week ending January 16, adding to the prior week’s sharp increase. Refinance demand again led the way. The Refinance Index cli... (read more) Settlement Agent Vetting, Servicer Efficiency Tools; STRATMOR on Tech; Investors, Crypto, and DSCR Fri, Jan 23, 2026 11:48AM Products, Services, and Software for Brokers and Lenders LEVEL UP YOUR SERVICING PLAYBOOK WITH SAGENT AT MBA SERVICING ‘26. Join Sagent in Dallas at MBA Servicing ‘26 to discover how Dara by Sagent is transforming mortgage servicing with unified data, streamlined workflows, real-time decisioning, and built-in compliance – the winning playbook for servicers... (read more) Latest Video Consumer sentiment rises in January All Fed chair candidates bring strengths to the position: Former Fed vice c... US S&P Global Manufacturing PMI stands at 51.9 in January, comes in close t... November personal income up 0.3% vs. 0.4% estimated Around the Web University of Michigan Current versus Pre-Pandemic Long Run Inflation Expectations CNBC Why a niche category of CRE lending is suddenly seeing record deals Eye on Housing House Prices Decline in Local Markets Despite National Growth CNBC Treasury yields lower as investors weigh the state of the U.S. economy CNBC Rieder odds rising for Fed chair after Trump calls BlackRock executive 'very impressive' Trading Economics US Manufacturing Shows Modest Momentum in January CNBC Trump says he reached Greenland deal 'framework' with NATO, backs off Europe tariffs Investing Live US November PCE inflation 2.8% vs 2.7% expected The White House Stopping Wall Street From Competing With Main Street Homebuyers BEA GDP Increased at an Annual Rate of 4.4 Percent in Q3 2025 CNBC Treasury yields decline as investors await Fed's preferred inflation gauge Investing Live US initial jobless claims 200K vs 210K expected Eye on Housing Private Residential Construction Spending Edges Higher in October on Home Improvements

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