Pinnacle Weekly Mortgage Rate Update | January 13, 2026

Jan 13

Mortgage rates continue to play a major role in home buying decisions, and staying informed can help you make the right move. Here’s our latest snapshot of 30-year fixed mortgage rates in the Austin area, along with an example of what it could mean for your monthly payment.

Current Rates

As of this week, the national average 30-year fixed conventional mortgage rate sits at ~6.16%, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). This is nearly the same as last week, showing stability in the market.

Week-Over-Week Comparison

Last week, rates were ~6.15%. This week, they’re ~6.16%, meaning mortgage rates are essentially flat.

Year-Over-Year Comparison

A year ago, the rate was ~6.93%. Today’s ~6.16% rate shows a significant drop, giving buyers lower payments or more buying power.

Conventional vs FHA

There are different loan options available, and understanding the difference is key:

Conventional: ~6.16%, 5% down, no mortgage insurance required with 20% down.
FHA: ~6.05%, 3.5% down, but mortgage insurance (MIP) is required, which increases monthly payments.

Even though FHA rates can be slightly lower, MIP should be considered when calculating your total cost.

What This Means for Austin Homebuyers

Let’s look at an example using the average Austin home price of $400,000:

5% down → $20,000
Loan amount: $380,000

Estimated Monthly Payment (Conventional)

Principal & Interest: ~$2,319
Property Taxes: ~$700
Homeowners Insurance: ~$100
Total: ~$3,119/month

Note: Actual payments vary based on property, insurance, and lender.

Why This Matters

With rates lower than last year, it’s a great time to evaluate your buying power or consider refinancing. Even small changes in interest rates can save you hundreds of dollars per month over the life of your mortgage.

Andrew Cavazos