The national average 30-year mortgage rate is 6.10%, near a three-year low, while the 15-year rate is 5.49%. Rates have dropped since last year but ticked up slightly recently. The Federal Reserve paused rate cuts in early 2026, likely delaying further declines. Mortgage rates track the 10-year Treasury yield plus a spread, which has narrowed. Housing supply remains tight, keeping prices high despite rate fluctuations. Buyers should consider affordability, local markets, and alternative home options.
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