Weekly Market Recap – January 19, 2026

In a bid to lower mortgage rates, President Trump recently directed two government-sponsored enterprises (GSEs) to purchase $200bn worth of mortgage-backed securities (MBS). While the details of these purchases remain in flux, the announcement helped 30-yearmortgage rates slide to a 3-year low. However, multiple factors influence mortgage rates, most of which aren’t impacted by MBS demand. These fundamental drivers may prove more consequential for the outlook for mortgage rates.