Why did mortgage rates drop to 6.15% today?

Mortgage rates fell as the 10-year Treasury yield hovered near 4.14% to 4.16%, lowering funding costs for mortgage-backed securities. Softer inflation data and steadier economic signals supported bond demand. When yields ease, lenders can price loans more aggressively, which often filters through to retail mortgage rates with a short lag.

How does the 10-year Treasury yield affect mortgage rates?

Lenders watch the 10-year Treasury yield because it reflects market expectations for inflation and growth. Mortgage rates typically move in the same direction as that yield, plus a spread for risk and prepayment. When the yield declines, funding costs fall, and lenders often reduce borrower rates, subject to daily market conditions.

Should I lock my mortgage rate now or wait?

If you are within 30 to 45 days of closing, locking protects current pricing and avoids surprises. If your timeline is flexible, you can float while tracking economic data and the 10-year yield. Ask about float-down options and set a target rate and date to act if markets move in your favor.

What is the 2026 outlook for mortgage rates?

The Fed signals only one cut in 2026, so declines may be gradual. If inflation cools and growth slows, the 10-year Treasury yield could drift lower, improving pricing. If inflation or growth runs hotter, yields may rise. Expect range-bound moves, with modest downside if data support lower long-term yields.

Global Market Insights

Mortgage Rates Today, January 6: 6.15% Hits 2025 Low, 2026 Outlook

ByDanny Kontos January 7, 2026January 7, 2026

Mortgage rates dipped to 6.15% today, a new 2025 low, as the 10-year Treasury yield holds around 4.14% to 4.16%. For U.S. buyers, this pullback supports housing affordability and may lift home sales into early 2026. We break down how bonds shape mortgage rates, what a 6.15% level means for payments, and smart steps to take now. We also outline the 2026 outlook, with the Fed signaling only one cut next year and a gradual path lower from here.