Mortgage Interest Rates Forecast

Taylor Getler
By Taylor Getler 
Updated
Edited by Mary Makarushka

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Mortgage rates this week

Fixed mortgage rates grew in the week ending April 18, pushing the 30-year rate over 7%, something home buyers haven’t seen since November 2023.

  • The 30-year fixed-rate mortgage averaged 7.16% APR, up 22 basis points from the previous week's average, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.

  • The 15-year fixed-rate mortgage averaged 6.43% APR, up 24 basis points from the previous week's average.

  • The 5-year adjustable-rate mortgage averaged 7.78% APR, down eight basis points from the previous week's average.

Rates have shot up to their highest levels in five months, disappointing buyers who may have hoped to see cuts by this point in the year. These growing interest rates are suppressing existing home sales, with sales dropping 4.3% in March, according to the National Association of Realtors’ Existing Home Sales Report. Sales have fallen 3.7% year over year.

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Mortgage loans from our partners

Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

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5.0

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 
3.5%

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on Rocket Mortgage

Better - PURCHASE logo
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on Better

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Min. credit score 
620

Min. down payment 
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on Better

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