Mortgage Rates May Not Come Down 1/13/26 - Your Money Minute

Summary3 min read

Overview

Episode Title: Mortgage Rates May Not Come Down 1/13/26
Podcast: Your Money Minute (CNBC)
Host: Jessica Ettinger
Expert Guest: Scott Wren, Wells Fargo
Date: January 13, 2026

This concise episode of "Your Money Minute" addresses a pressing question on many homebuyers’ minds: are mortgage rates likely to decrease significantly in the near future? CNBC’s Jessica Ettinger and Wells Fargo’s Scott Wren provide context, recent data, and expert perspective, offering actionable advice for anyone navigating today’s real estate market.

Key Discussion Points and Insights

1. Homebuyer Concerns Over Mortgage Rates

Common Question: Many aspiring homebuyers, as well as their families, are wondering if 30-year fixed mortgage rates will drop, ideally to 5%.
- Scott Wren: "Friends outside of the business who are either looking to buy a house, their kids are their grandkids... they're asking when are rates going to get down to 5% for a 30 year fixed." [00:12]

2. The Economic Reality of Rate Predictions

Current Scenario: As of New Year’s Eve, the 30-year fixed home loan averaged about 6.25% (according to Mortgage News Daily).
- Jessica Ettinger: "On New Year's Eve day... the average rate on a 30 year fixed home loan was just about six and a quarter percent." [00:30]
Expert Outlook: Wren cautions that, barring an economic downturn, it’s “really tough” for rates to drop much below 6%.
- Scott Wren: "If you think the economy is going to collapse... we might get there. You know, right now with what we're expecting in terms of growth, I think it's going to be really tough... for the 30-year fixed mortgage, to really go much below six." [00:18 – 00:40]

3. Advice for Potential Buyers

Actionable Takeaway: If you find a home you want at today’s rates, waiting for further drops is likely not the best strategy.
- Jessica Ettinger: "Ren says if you find a home you want, you might want to just buy it." [00:49]
- Scott Wren: "If you're looking at a 30 year mortgage right now, I would, I would lock it in right now. I mean, you know, we've got a housing shortage big time. You can't flip the switch and change it there. But these mortgage rates, in our opinion, they're just not going to get much lower than they are right now." [00:54]

Notable Quotes & Memorable Moments

On the persistence of high rates:
Scott Wren: “If you think the economy is going to collapse or do poorly, well, we might get there. But right now... it’s going to be really tough for the 30-year fixed mortgage to really go much below six.” [00:18 – 00:40]
On buying amidst uncertainty:
Scott Wren: “If you’re looking at a 30-year mortgage right now, I would, I would lock it in right now... these mortgage rates, in our opinion, they’re just not going to get much lower than they are right now.” [00:54 – 01:11]

Timestamps for Important Segments

00:00 – 00:12: Introduction and framing of the mortgage rate question.
00:12 – 00:30: Scott Wren discusses buyer anxieties and rate expectations.
00:30 – 00:49: Current rate statistics and expert predictions.
00:49 – 01:11: Actionable advice for buyers; why locking in today may be wise.

Summary

This episode distills the current sentiment and forecast on mortgage rates: significant drops below 6% are unlikely unless the economy weakens drastically. With ongoing housing shortages and stable growth, experts advise buyers to act confidently at present rates rather than bet on substantial decreases in the near term.
For those weighing the timing of their home purchase, this episode offered candid, data-driven advice directly from industry insiders.

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Transcript8 lines

[00:00]
A
With a CNBC your Money minute, I'm Jessica Ettinger. A lot of would be homebuyers are asking, are mortgage rates ever going to come down? Wells Fargo's Scott Wren gets that question a lot.
[00:12]
B
Friends outside of the business who are either looking to buy a house, their kids are their grandkids and they're asking winter rates going to get down to 5% for a 30 year fixed. And you know, I get that question all the time. And I'm like, well, if you think the economy is going to collapse or do poorly, well, we might get there.
[00:31]
A
Now back on New Year's Eve day, the final day of the year, the average rate on a 30 year fixed home loan was just about six and a quarter percent, according to Mortgage News Daily.
[00:41]
B
You know, right now with what we're expecting in terms of growth, I think it's going to be really tough. For the 30 year fixed mortgage, you really go much below six.
[00:50]
A
And Ren says if you find a home you want, you might want to just buy it.
[00:54]
B
I tell people, I mean, if you're looking at a 30 year mortgage right now, I would, I would lock it in right now. I mean, you know, we've got a housing shortage big time. You can't flip the switch and change it there. But these mortgage rates, in our opinion, they're just not going to get much lower than they are right now.
[01:11]
A
There's a lot more on buying a home. @cnbc.com I'm Jessica Ettinger, CNBC.
[01:18]
C
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