2026 Mortgage Rates: Refinancing Rates Hit Over 5-Month Low, Berkshire Hathaway Makes This Prediction For The Housing Market

The housing market could be an attractive proposition for home buyers and borrowers looking to refinance their existing borrowings, as 2026 mortgage rates trend lower, with refinancing rates hitting more than a five-month low.

Data from Bank of America shows that the refinancing rate for a 30-year fixed mortgage is now down to 6.625% for a current loan balance of $200,000.

This refinance rate is applicable for borrowers with a credit score of 740 or higher. It comes down to 5.5% if the term is reduced to 15 years, fixed. According to an analysis by Investopedia, refinancing rates are now down to their lowest since the beginning of March for a 30-year fixed refinance loan.

In July, Warren Buffett-led Berkshire Hathaway Inc.’s (BRK-A) (BRK-B) HomeServices predicted a softening in the housing market.

The firm noted that despite the expected softening, home prices are unlikely to fall dramatically. “Instead, they expect prices to continue rising—just at a slower pace. Slightly lower rates might encourage buyers to act, especially if more sellers list homes to beat any potential price correction. That could increase inventory and put downward pressure on prices,” the firm said in its note.

It added that most housing experts expect home price relief to arrive sometime in 2026 or later, even as refinance rates have cooled down notably.

Refinancing mortgages makes financial sense when borrowers have an option to go from a relatively higher interest rate to a lower one, helping save a considerable amount of money in the long run.

Meanwhile, U.S. equities edged up in Monday’s morning trading session. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.01%, while the Invesco QQQ Trust (QQQ) gained 0.17%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘neutral’ territory.

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