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Mortgage Interest Rates Forecast

Mortgage rates dipped to 6.10% this week as markets steadied following the Iran ceasefire, with ongoing uncertainty keeping rates in a narrow range.

Kate Wood
Johanna Arnone
Updated
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Mortgage rates dipped a bit this week, staying within a relatively narrow range despite volatility elsewhere in the markets. The average 30-year fixed rate fell to 6.10% APR for the week ending April 23, according to Zillow data provided to NerdWallet. Rates are still bouncing around day to day, but not by much, as markets react to headlines around the Iran ceasefire and broader economic uncertainty.
Looking ahead, don’t expect much direction from the Federal Reserve. Policymakers are widely expected to hold rates steady, so what happens next will likely come down to global news and incoming data. Even though rates are lower than a month ago — and well below last year — plenty of buyers are still hesitant. If you’re ready to move, though, this stretch of relative calm could make it a little easier to plan your next step.
» MORE: Is it a good time to buy a house?

Spring mortgage rates forecast

The Federal Reserve faces a tricky balancing act as it watches for signs of slowing growth alongside lingering inflation risks. Policymakers are widely expected to hold rates steady at their April 28–29 meeting, with a wait-and-see approach likely to extend into the summer.
» MORE: How the Fed affects mortgage rates

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