Mortgage rates in early 2026 remain relatively stable, with the 30-year fixed-rate mortgage averaging 6.11%, just slightly higher than last week but significantly lower than a year ago. The 15-year fixed mortgage is at 5.50%. Rates have been near their 52-week lows, with the spread between mortgage rates and the 10-year Treasury yield narrowing, contributing to lower borrowing costs. Despite political and Federal Reserve signals suggesting potential rate hikes or stabilization, mortgage rates are not expected to drop significantly in the near future, as the Fed has indicated no immediate rate cuts and inflation remains stable. Experts note that mortgage rates tend to follow the 10-year Treasury yield more closely than the federal funds rate, which has remained stagnant. The market is also influenced by economic reports such as retail sales and employment data, with recent declines in retail sales causing temporary rate drops. However, the overall outlook suggests that rates will stay around current levels for the coming months. Homebuyers are advised not to wait for lower mortgage rates, as housing prices remain high due to supply shortages, and demand continues to outpace supply. Strategies for buyers include exploring different types of homes, considering fixer-uppers, rethinking commute options, and opting for shorter-term loans like 15-year mortgages or rate buydowns to manage costs. Current mortgage refinance rates are around 6.80% for 30-year loans and 5.52% for 15-year loans. Overall, mortgage rates are unlikely to change drastically soon, presenting an opportunity for prospective buyers and homeowners to lock in current rates while market conditions are stable.