The national average 30-year rate has hardly moved this week, now sitting at 6.11%, according to Freddie Mac. However, the Federal Reserve did not lower the federal funds rate at its January 28 meeting, and it probably won’t cut its rate for several more months. So, what does this mean for the 2026 housing market? Will mortgage rates go down in the near future? Are mortgage rates dropping? Mortgage rates are dropping overall. They are near their lowest levels in more than three years, though they’ve be ...