Mortgage Interest Rates Forecast
Mortgage rates remained in the high 5% range this week, supported by falling Treasury yields and increased mortgage-backed securities purchases.
Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.
Updated
Written by
Lead Writer/Spokesperson 
Edited by
Head of Content, Home Loans Mortgage rates are still hanging out at their lowest levels in years — welcome news for homeowners ready to refinance and buyers hoping for a break. The average 30-year fixed rate was 5.87% APR for the week ending Feb. 26, according to rates provided to NerdWallet by Zillow. That’s slightly higher than last week, but still the lowest we’ve seen since September 2022, with most major surveys now officially below 6%. On the surface, that’s a bit surprising: recent inflation data and typical Fed signals would normally point to higher rates, not lower ones.
The bigger story is happening behind the scenes in the bond market. Falling 10-year Treasury yields — along with a narrowing “spread” between Treasuries and mortgage-backed securities — have helped pull mortgage rates down. Add in aggressive mortgage-backed securities purchases by Fannie Mae and Freddie Mac, plus expanded caps on how much they can hold, and you’ve got extra support keeping rates in the fives. If that backing continues, today’s lower rates may have more staying power than expected.
Spring mortgage rates forecast
Now that rates have slipped below 6%, the big question is whether they’ll stay there. Most projections suggest modest movement in the near term, with spring likely bringing clearer direction.
Mortgage loans from our partners
on NBKC
NBKC
Min. credit score
620
Min. down payment
3%
on New American Funding
New American Funding
Min. credit score
N/A
Min. down payment
0%
on GO Mortgage
GO Mortgage
Min. credit score
620
Min. down payment
3%
Mortgage loans from our partners
on NBKC
NBKC
Min. credit score
620
Min. down payment
3%
on New American Funding
New American Funding
Min. credit score
N/A
Min. down payment
0%
on GO Mortgage
GO Mortgage
Min. credit score
620
Min. down payment
3%
on Rocket Mortgage
Rocket Mortgage
Min. credit score
580
Min. down payment
3.5%
on Veterans United
Veterans United
Min. credit score
620
Min. down payment
0%
Article sources
NerdWallet writers are subject matter authorities who use primary,
trustworthy sources to inform their work, including peer-reviewed
studies, government websites, academic research and interviews with
industry experts. All content is fact-checked for accuracy, timeliness
and relevance. You can learn more about NerdWallet's high
standards for journalism by reading our
editorial guidelines.
