Rate Movement — Last 12 Weeks
What Moved Rates This Week
Mortgage rates remain in the low 6% range as markets digest mixed economic signals. The Federal Reserve has maintained its benchmark rate following the cuts initiated in late 2024, and investors are closely watching upcoming inflation data and labor market reports for clues about the pace of future monetary policy adjustments.
Bond yields — the primary driver of mortgage rates — have been trading in a narrow band as the market balances stronger-than-expected employment numbers against cooling inflation readings. The 10-year Treasury yield, which closely tracks 30-year mortgage rates, has been hovering near 4.5%, keeping mortgage rates relatively stable week over week.
For borrowers, the current environment offers relative predictability. While rates are well above the pandemic-era lows, they remain historically moderate. Buyers who have been waiting on the sidelines may find this a reasonable entry point, especially if they plan to refinance when rates eventually decline further.
Factors Affecting Today's Rates
Federal Reserve
The Fed has held rates steady through early 2026 after its rate-cutting cycle began in late 2024. Forward guidance suggests a cautious, data-dependent approach, with markets watching for signs of additional cuts later this year.
Inflation
CPI has moderated from its 2022 highs but remains above the Fed's 2% target. Core inflation has been sticky in the services sector, which continues to put upward pressure on mortgage rates.
Employment
The labor market remains resilient with steady job gains and low unemployment. Strong employment data tends to push rates higher as it reduces the urgency for Fed rate cuts.
Global Markets
International demand for U.S. Treasury bonds, geopolitical tensions, and global economic uncertainty all influence the 10-year Treasury yield, which is the primary benchmark for mortgage rates.
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The rates above are national averages. Use the tool below to see personalized rates based on your specific situation.
Understanding Today's Rates
The mortgage rates displayed on this page come from Freddie Mac's Primary Mortgage Market Survey (PMMS), the most widely cited source for U.S. mortgage rate data. Each week, Freddie Mac surveys lenders nationwide and publishes the average rates for 30-year fixed, 15-year fixed, and adjustable-rate mortgages.
These are national averages based on loans for well-qualified borrowers — typically those with strong credit scores (740+), at least 20% down payment, and conforming loan amounts. Your individual rate may be higher or lower depending on your credit profile, loan-to-value ratio, debt-to-income ratio, property type, and the specific lender you choose.
Rates are also influenced by the number of discount points paid. Freddie Mac reports the average number of points alongside each rate. Paying more points upfront typically results in a lower interest rate over the life of the loan.
Frequently Asked Questions About Today's Rates
The rates shown on this page come from Freddie Mac's Primary Mortgage Market Survey (PMMS), which surveys lenders weekly and publishes results every Thursday. Our data reflects the most recent survey release.
These are national average rates for well-qualified borrowers. Your actual rate depends on your credit score, down payment, loan amount, property type, and other factors. Use our rate shopping tool below to see personalized rates from multiple lenders.
The interest rate is the cost of borrowing the principal loan amount. The APR (Annual Percentage Rate) includes the interest rate plus other costs like origination fees and discount points, giving you a more complete picture of the total cost of the loan.
Timing the market is extremely difficult. Historically, waiting for lower rates often means facing higher home prices. Many experts recommend buying when you can afford to and refinancing later if rates decrease significantly.
Lenders consider your credit score, debt-to-income ratio, down payment size, loan amount, property type, occupancy status, and loan term. A higher credit score and larger down payment typically result in lower rates.
Weekly rate movements are typically between 0.01% and 0.15%. However, during periods of economic volatility or major Fed announcements, rates can move more dramatically. The largest single-week moves in recent history have been around 0.25%.
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