Today’s mortgage rates are significantly lower than last January’s rates, with the 30-year fixed rate dropping 98 basis points to 6.06%. Current national averages for mortgage and refinance rates include 30-year fixed at 5.86%, 20-year fixed at 5.82%, and 15-year fixed at 5.33%. When choosing between fixed and adjustable rate mortgages, consider the predictability of fixed rates versus the initial lower rates of ARMs. Economists predict mortgage rates to remain stable through 2026, with a slight increase in 2027. It’s a good time to shop for lenders and lock in a rate that works best for you.

Read more at Yahoo Finance: Annual rates plummet by 98 basis points