(Jan 7): US mortgage rates fell last week to the lowest level since September 2024, a hopeful sign for the sluggish housing market to start the new year. The contract rate on a 30-year mortgage dropped seven basis points to 6.25% in the week ended Jan 2, which included New Year’s Day, according to Mortgage Bankers Association data released Wednesday. The rate on a 30-year jumbo mortgage, which is used to finance purchases of more expensive homes, fell to 6.32%, the lowest since April 2023. The figures are encouraging for a housing market that’s been hamstrung by affordability constraints in recent years. The data cover more than 75% of all retail residential mortgage applications in the US.

Source: The Edge Markets January 07, 2026 12:48 UTC