National average mortgage rates have decreased due to President Trump’s proposed initiatives for affordable housing. The average 30-year fixed rate is 5.91%, with the 15-year fixed rate at 5.36%. Mortgage refinance rates are slightly higher, with the 30-year fixed rate at 5.99%. When choosing between a 15-year and 30-year mortgage, consider your short-term versus long-term goals. Lower rates are typically given to those with higher down payments, good credit scores, and low debt-to-income ratios. Don’t wait for rates to drop – focus on improving your personal finances to secure the best rate.

Read more at Yahoo Finance: Mortgage and refinance interest rates today, January 11, 2026: Dipping below 6%