Mortgage Rates Tuesday, July 18: Minimal Movement

Finding the Right Mortgage, Mortgage Rates, Mortgages
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Mortgage rates for 30-year and 15-year fixed loans dipped by one basis point each since yesterday, while 5/1 ARMs remained unchanged, according to a NerdWallet survey of mortgage rates published by national lenders Tuesday morning.

The National Association of Home Builders/Wells Fargo Housing Market Index was released today, indicating a drop of two basis points in July from the month prior. This is the lowest reading since before the presidential election in November. The decreased confidence is due to rising material prices, especially lumber, which can negatively impact home affordability for consumers.

“Our members are telling us they are growing increasingly concerned over rising material prices, particularly lumber,” NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas, said in a release. “This is hurting housing affordability even as consumer interest in the new-home market remains strong.”

MORTGAGE RATES TODAY, Tuesday, JULY 18:

(Change from 7/17)
30-year fixed: 4.10% APR (-0.01)
15-year fixed: 3.47% APR (-0.01)
5/1 ARM: 3.88% APR (NC)


NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

Emily Starbuck Crone is a staff writer at NerdWallet, a personal finance website. Email: emily.crone@nerdwallet.com.