As we reported last week, the announcement that Fannie and Freddie would buy $200bln in mortgage-backed securities led to a precipitous drop in rates last week. For most of Friday, the top tier 30yr fixed rate was at 5.99% for the average lender according to MND's daily mortgage rate index--the lowest in roughly 3 years.  And that single day of ridiculously low rates was enough to visibly juice application activity. The Mortgage Bankers Association (MBA) reported a 28.5% jump in applications for the week ending January 9th. One small caveat: the prior week’s data included an adjustment for the New Year’s Day holiday, exaggerating the contrast, but the underlying rebound was nonetheless substantial. The Refinance Index surged 40% from the previous week and was 128% higher than the same week one year ago, marking the strongest weekly pace since October.  Purchase activity also strengthened meaningfully. The seasonally adjusted Purchase Index rose 16% week-over-week, while unadjusted purchase applications jumped 51% and remained 13% above last year’s level, signaling continued buyer engagement as rates moved lower. “Mortgage rates dropped lower last week following the announcement of increased MBS purchases by the GSEs. Lower rates, including the 30-year fixed rate declining to 6.18 percent, sparked an increase in refinance applications,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Compared to a holiday-adjusted week, refinance applications surged 40 percent to the strongest weekly pace since October 2025. The average loan size for refinance applications was also higher, as borrowers with larger loan sizes are typically more sensitive to changes in rates.”

January 14, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.04% -0.03%   6.01% 7.13% 15 Yr. Fixed 5.57% -0.01%   5.55% 6.52% 30 Yr. Jumbo 6.34% +0.00%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Jan 14, 2026 Mortgage Rates Unchanged Despite Bond Market Improvement Wed, Jan 14, 2026 3:27PM Trading levels in the bond market directly impact the rates that mortgage lenders can offer. This is why rates moved so much lower after last week's news regarding planned purchases of $200bln in mortgage backed bonds.  But bonds aren't the only input for rates, and those other inputs can make for days like today where bonds are noticeably better while mortgage rates refuse to follow. Those other inputs aren't as easy to observe and quantify as the objective trading levels in the bond market, but in the current case, we can assume that at least some of the explanation has to do with mort... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.04% -0.03 0.00 15 Yr. Fixed 5.57% -0.01 0.00 30 Yr. FHA 5.70% -0.04 0.00 30 Yr. Jumbo 6.34% 0.00 0.00 7/6 SOFR ARM 5.62% -0.07 0.00 30 Yr. VA 5.72% -0.04 0.00 Updates Daily - Last Update: 1/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.06% -0.10 0.00 15 Yr. Fixed 5.38% -0.08 0.00 Updates Weekly - Last Update: 1/15 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 5.0 100.20 -0.20   95.36 100.50 UMBS 30YR 5.5 101.40 -0.12   97.76 101.64 10 YR Treasury 4.160 +0.028   3.932 4.655 Today's Data is Proving Less Tradeable, But Doing No Harm Wed, Jan 14, 2026 8:58AM 10yr Treasury futures volumes spiked about 5 times higher in the 2 minutes following yesterday's CPI than in the 2 minutes following this morning's PPI/Retail Sales combo. Annual PPI was the highest since July with headline and core both at 3.0%.  But November's results were lower than expected (core m/m at 0.0 vs 0.2).  It was a big upward revisio... (read more) MBS Price Change UMBS 4.5 98.37 -0.24 UMBS 5.0 100.20 -0.20 UMBS 5.5 101.40 -0.12 GNMA 4.5 98.02 -0.23 GNMA 5.0 99.98 -0.17 GNMA 5.5 101.00 -0.13 Pricing as of: 1/15 1:04PM EST US Treasury Yield Change 2 YR Treasury 3.559 +0.048 5 YR Treasury 3.759 +0.051 7 YR Treasury 3.951 +0.044 10 YR Treasury 4.160 +0.028 30 YR Treasury 4.789 +0.006 Pricing as of: 1/15 1:04PM EST Other News Bond Buying Announcement Leads Surge in Mortgage Apps Wed, Jan 14, 2026 12:37PM As we reported last week, the announcement that Fannie and Freddie would buy $200bln in mortgage-backed securities led to a precipitous drop in rates last week. For most of Friday, the top tier 30yr fixed rate was at 5.99% for the average lender according to MND's daily mortgage rate index--the lowest in roughly 3 years.  And that single day of ridicul... (read more) Existing-Home Sales Jump 5.1% in December, Strongest Pace in Nearly Three Years Wed, Jan 14, 2026 12:52PM Existing-home sales posted a notable year-end rebound in December, jumping 5.1% to a seasonally adjusted annual rate of 4.35 million , according to the National Association of Realtors (NAR). After adjusting for seasonal factors, December sales were the strongest in nearly three years, marking a broad-based improvement across all four regions. “2025 ... (read more) Hedging, Warehouse, BBYS, HELOC Products; Mortgage Apps Jump; Inflation Data Tame; FHA Delinquencies Wed, Jan 14, 2026 11:55AM In our world, no one expects lender and/or vendor mergers and acquisitions to diminish in 2026, and in today’s Mortgage Matters at 2PM ET, presented by Lenders One, Garth Graham, Senior Partner at STRATMOR Group, will break down key M&A trends, recap the pivotal developments of 2025, and share insights on what lenders can expect in 2026. (Garth leads the... (read more) Latest Video Existing home sales end 2025 with a strong beat, as prices ease further Philadelphia Fed President Paulson: Fed funds rate 'still a little restrict... November PPI 0.2% vs. 0.3% estimate October new home sales: 737k vs. 718k estimate Around the Web CNBC Mortgage refinance demand surges 40% higher after Trump post briefly tanks interest rates Politico Trump team drafting executive order on affordability Realtor.com New-Home Prices Fall to 4-Year Low as Builders Deepen Discounts NAR NAR Existing-Home Sales Report Shows 5.1% Increase in December CNBC Heres the inflation breakdown for December 2025 in one chart Eye on Housing Building Material Price Growth Remains Elevated in November CNBC Wholesale inflation was softer than expected, retail sales moved higher in November CNBC December core consumer prices rose at a 2.6% annual rate, less than expected CNBC U.S. Treasury yields little changed as investors await more economic data Breaking The News ADP: Weekly US employment up by 11,750 CNBC Data center REIT CEO says real estate not in an oversupply state Investing Live US November retail sales +0.6% vs +0.4% expected Breaking The News US new home sales down 0.1% in October

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