Current Mortage Rates

Mortgage rates are based on a variety of factors that include economic forces and your own personal credit profile. They’ll be influenced by whether the Federal Reserve raises or lowers its target rate, and by how much yields on 10-year Treasury bonds fluctuate.

The weekly average mortgage rate reflects what borrowers can expect to pay for a 30-year fixed-rate loan, with certain assumptions about credit score, down payment and points paid. Your actual mortgage rate will be determined by your lender based on your individual circumstances.

Interest Rates

Interest rates are a crucial part of the mortgage equation. They determine how much it costs to borrow money to buy a house, and therefore impact your purchasing power (the financial ability to afford a home).

The Federal Reserve doesn’t directly set mortgage rates, but its monetary policy decisions play a role in how mortgages move. The Fed’s goal is to achieve and maintain low inflation, which helps ensure economic growth. When inflation rises, it can lead to higher consumer prices and interest rates.

As a result, mortgage rates are generally higher when inflation is rising, and lower when it’s falling. The current trend of falling inflation has led to a drop in mortgage rates, which is good news for prospective homebuyers.

But, just like any other type of debt, mortgage loans have different interest rates depending on the risk involved and the creditworthiness of the borrower. A mortgage loan is secured by a real property, which lenders can take ownership of in the event of default. This reduces the lender’s risk and is why mortgage rates are often lower than other types of debt, such as personal loans or credit card payments.

Another factor that influences mortgage rates is the 10-year Treasury yield. Because fixed-rate mortgages are tied to the 10-year yield, when the yield goes up, so do mortgage rates. Similarly, when the yield goes down, mortgage rates go down as well.

Finally, mortgage rates are also influenced by supply and demand. If the demand for mortgages is high, lenders will raise rates to increase profits, and if the market is light, they may cut rates to attract borrowers.

Mortgage rates retreated this week, giving buyers hope for a smoother spring homebuying season. However, the current trend of rising inflation may still lead to higher mortgage rates in the future.

To get a better idea of how mortgage rates might affect your buying power, check out our mortgage calculator to see what a potential monthly payment would look like under different interest rate scenarios. And remember, when comparing mortgage rates, it’s important to consider all the variables: your credit score and down payment, how long you plan on staying in your home, and whether you have a variable or fixed-rate mortgage.


Mortgage rates are an important factor for homebuyers because they determine how much it will cost to purchase a new home. However, many different factors affect the mortgage rates that lenders offer. These include credit score, loan-to-value ratio and mortgage type. In addition, the current market conditions and economic forecast can also influence mortgage rates. Mortgage rates have been on a roller coaster ride in recent years, but they appear to be stabilizing.

Mortgage rate trends are influenced by complex factors like inflation, the cost of borrowing money and bond yields. The Federal Reserve’s monetary policy and the state of the housing market also impact mortgage rates. However, a mortgage borrower’s financial profile and lender competition will determine what actual mortgage rates and terms they can receive.

A person’s mortgage rates are determined by a number of personal and financial factors, including their credit score, income and debt-to-income ratio. Lenders also consider a homebuyer’s goals and risk tolerance when determining the mortgage rate that will be offered. For example, a first-time homebuyer may want to purchase a short-term mortgage that is tied to an interest-rate index, while a homeowner who already owns a home may prefer a longer-term fixed-rate mortgage.

The mortgage rates that are published on NerdWallet’s website and other websites are sample rates that can help borrowers understand where mortgage rates are today. These sample rates are based on the average of what 8,000 lenders were offering to borrowers across the country for each day. They are based on assumptions about the borrower’s location, lender and credit profile. They can also include discount points, which are fees that a borrower can choose to pay upfront in order to lower the mortgage rate.

The 30-year mortgage rate fell slightly last week, as the latest inflation report came in below expectations. The decline in mortgage rates is good news for prospective homebuyers who have been struggling to afford the rising costs of homeownership. However, mortgage rates are still high compared to recent years and remain an obstacle for many potential homebuyers.


Mortgage rates can be directly or indirectly affected by a variety of economic factors. For example, they tend to follow the trend set by the Federal Reserve’s monetary policy, particularly when the central bank raises its target Fed funds rate. That increase can lead to an increase in short-term interest rates, which can have a trickle-down effect and cause home loan interest rates to rise as well. But, the individual credit and income profiles of potential borrowers as well as lender terms are usually the deciding factors in what loan rates they will actually receive. Investopedia tracks the best mortgage rates available daily, so that our readers can know what the current market trends are.


Mortgage rates retreated this week, following news that inflation eased slightly and the yield on 10-year treasury bonds dipped. This could improve affordability for prospective homebuyers, though rates are still elevated compared to historic levels.

NerdWallet’s weekly mortgage rates survey incorporates quotes from a wide range of lenders. The average rates reflect what borrowers might actually pay, taking into account their credit score, down payment amount and lender terms. They do not include taxes and insurance premiums.

The rates are based on quotes from 8,000 lenders the previous business day and do not reflect all loan terms available or the final terms of any loans you may receive. The rate data is updated each business day.

The mortgage rates we display are influenced by complex economic forces that are often out of the control of lenders and homebuyers alike. For example, mortgage rates follow trends set by the Federal Reserve’s federal funds rate, employment data, consumer price index and 10-year treasury bond yields. While a borrower’s personal factors can influence their mortgage rates, lenders also set their own rates to offset the risk they take when lending money to homeowners. To help shoppers navigate these complicated influences, NerdWallet’s weekly mortgage rates surveys a wide range of lenders to find the best mortgage rates for your unique situation.


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