Advertiser Disclosure

Mortgage Rates Wednesday, May 24: Minimally Higher

Mortgage Rates, Mortgages
You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Here's how we make money.

Mortgage rates for 30- and 15-year fixed loans, as well as 5/1 ARMs, moved slightly higher, according to a NerdWallet survey of mortgage rates published by national lenders Wednesday morning.

At least a couple of factors may impact mortgage rates through the end of the week. The Federal Reserve will release the minutes of its last meeting, perhaps giving traders a clue to future monetary policy changes. The Fed is expected to raise short-term interest rates at its next meeting in June, perhaps with one more hike prior to the end of the year. Analysts will be looking for signs of any shift in that strategy.

Another potential catalyst: news from overseas. Britain is bracing for the possibility of further terror attacks after the Manchester concert bombing — that is likely to keep markets on edge. And China’s debt was downgraded by Moody’s, the bond rating firm, on concerns over a weakening financial system and a slowing economy.

If the Fed touts a strong economy, rates might rise. But bad news — at home or abroad — could cause mortgage rates to fall. So far, the bond market seems to be waiting for a sign; all is quiet.


(Change from 5/23)
30-year fixed: 4.09% APR (+0.01)
15-year fixed: 3.46% APR (+0.02)
5/1 ARM: 3.82% APR (+0.01)

» MORE: How much home can you afford?

Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

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.

More from NerdWallet
The pros and cons of home equity lines of credit
Best lenders for FHA loans
Calculate your monthly mortgage payment

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: Twitter: @halmbundrick.

A previous version of this article misstated the 30-year fixed rate as 4.08%. This article has been corrected.