Mortgage rates have decreased once more this week, based on the latest survey from Bankrate. The 30-year fixed rate now averages 6.18%, down from 6.24% last week. This marks the lowest level recorded since September 2022.
In the survey, the 30-year fixed mortgages included an average total of 0.34 discount and origination points. Discount points are used to reduce mortgage rates, while origination points cover fees for loan processing.
According to data, the national median family income for 2025 is $104,200, as reported by the U.S. Department of Housing and Urban Development. The median price for an existing home sold in December 2025 was $405,400, according to the National Association of Realtors. With a 20% down payment and a 6.18% mortgage rate, the monthly payment comes to $1,982, representing about 23% of the typical family's monthly income.
"With more housing inventory coming online and home prices starting to level off, this remains a promising environment for those looking to buy or refinance," says Samir Dedhia, CEO of One Real Mortgage.
On January 9, President Donald Trump announced on his social media platform that he directed mortgage giants Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities. Mortgage rates, which were already at a 15-month low of 6.24% before Trump's Truth Social post, briefly dropped below the 6% mark following this news.
Fannie and Freddie are government-sponsored enterprises that support approximately two-thirds of U.S. home loans. These mortgages are packaged as securities and sold to entities like the Federal Reserve, pension funds, and other institutional investors. While home loans may be originated by lenders such as Rocket, loanDepot, or Wells Fargo, or by independent mortgage brokers, they are often converted into mortgage bonds owned by investors. Increased demand for home loans from government purchases could potentially lead to lower rates.
Despite the initial dip in mortgage rates after Trump's proposal, there is skepticism within the industry about whether this will provide sustained relief for borrowers. "In my opinion, the $200 billion purchase is likely to produce a temporary and limited reduction in mortgage rates," says Sean Salter, a finance professor at Middle Tennessee State University. "Unless there is coordination with and support from monetary-policy actions via the Federal Reserve, and/or fiscal-policy actions from Congress, the effects of Trump's announcement will likely not be highly impactful or long-lasting."