Skip to contentNerdwallet icon

Mortgage Interest Rates Forecast

Fed meeting speculation pushes mortgage rates to their highest weekly average in nearly a year.

Taylor Getler
Dawnielle Robinson-Walker
Updated
Mortgage rates climbed to their highest weekly average in nearly a year. The average rate on a 30-year fixed-rate mortgage rose 15 basis points to 6.66% APR for the week ending July 30, according to rates provided to NerdWallet by Zillow.
Rates surged heading into the Federal Reserve's July 29 meeting as futures traders bet on a rate hike that never materialized. The Fed held steady, but the week's earlier spike was enough to push the weekly average sharply higher.
A rate hike is still widely expected at September’s Fed meeting, and with inflation running above target, rates are more likely to climb than fall in the weeks ahead. For buyers already stretched by high home prices and everyday costs, the window is narrow — and for homeowners eyeing a refinance, it may be worth a closer look before rates rise further.
» MORE: Is it a good time to buy a house?

🤓 Kate on Rates: July 30, 2026

Video thumbnail

August mortgage rates forecast

Rates are expected to move higher this month, driven by renewed fighting in Iran and the ripple effect it's having on oil prices and inflation fears. Though the Federal Reserve held rates steady at its July meeting, markets weren't reassured — bond yields rose during Fed Chair Kevin Warsh's press conference as investors found his inflation-fighting comments short on specifics.
» MORE: How the Fed affects mortgage rates

Mortgage loans from our partners

New American Funding

at New American Funding

New American Funding
4.0
NerdWallet rating
Min. credit score

N/A

Min. down payment

0%

Rocket Mortgage, LLC

at Rocket Mortgage, LLC

Rocket Mortgage
4.5
NerdWallet rating
Min. credit score

580

Min. down payment

3.5%

Tomo

at Tomo

Tomo
4.5
NerdWallet rating
Min. credit score

600

Min. down payment

3%

COMPARE MORE LENDERS
Explore more on
How to Move in 2026Mortgages
Back to top
Related articles
Mortgage Help: How Lenders Are Responding to COVID-19
What Is APR and How Does It Affect Your Mortgage?
Robin Rothstein's profile picture
By Robin Rothstein
How to Get the Best Mortgage Rate
Taylor Getler's profile picture
2
By Taylor Getler, Robin Rothstein