economy
January 16, 2026
Should you lock in a mortgage rate before the January Fed meeting?
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TL;DR
- Mortgage rates have declined significantly, with many options now below 6% and near 3-year lows.
- The chances of another Federal Reserve rate cut in January are estimated to be low (around 5%).
- Locking in a rate now provides certainty against potential future increases.
- Many lenders offer a 'float down' option, allowing borrowers to secure a lower rate if rates decrease before closing.
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