With the first Federal Reserve meeting of 2026 just days away and the knowledge that the central bank reduced rates in its last three consecutive meetings, homebuyers and owners hoping to refinance may be anticipating another drop in rates next week. After all, the Fed is a big driver behind mortgage rates, and it was a large reason why mortgage interest rates dropped to – and hovered near – 3-year lows in recent months. At the same time, the chances of a Fed rate cut on January 28 currently appear low, and there isn’t a Fed meeting on the calendar again until March. So the rates that are currently listed online may be the most competitive for the foreseeable future.

 

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