Trump and Jerome Powell in Federal Reserve building undergoing renovations.
Mortgage rates declined slightly, treasuries remained steady. Trump buys $200B in MBS. Fed Chair Powell strikes Back.
Current Rates
(Primary source: Optimal Blue updated Jan 14, 2026)
• 30-Year Conventional: 6.020% (↓ −0.01%)
• 30-Year FHA: 5.920% (unchanged)
• 30-Year Jumbo: 6.344% (↓ −0.09%)
• 30-Year DSCR: ~6.60–6.70% (est., ~0.50–0.65% above 30Y conventional)
• 10-Year Treasury: 4.17% (↑ +0.01%)
• Effective Fed Funds Rate: 3.64% (unchanged)
• December Inflation Rate: 2.7% Annual Inflation CPI Rate (source: bls.gov)
What Markets Are Watching
• Jan 28 (2:00pm ET): FOMC Meeting - Fed policy decision
• May 15th 2026: Fed Chair Powell’s Last Day as Chair of Fed.
Editors Opinion
2026 kicked off to big events driving interest rates. Trump said he is ordering representatives to purchase $200 Billion in mortgages, which drove down interest rates ~.10%. This is a very small movement in rates and will amount to little more than a rounding error; more symbolical in nature. Trump wants rates down and he will do whatever it takes.
In the same week, the DOJ issued the Fed Chair Powell a subpoena threatening criminal indictment related to the use of funds for renovating a historic Federal Reserve building .
Fed Chair Powell released a video striking back at Trump calling this action “pretext” and characterizing it as a full on assault on the independence of the Fed by President Trump. Posted to their YouTube channel only 4 days ago, it is already the most viewed video ever from the Federal Reserve.
Watch Statement from Federal Reserve Chair Jerome H. Powell.
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