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Mortgage Rate Watch
Mortgage Rates Hold Steady Over The Weekend
Mortgage rates are based on movement in the bond market and although bonds experienced some volatility in response to Iran war news over the weekend, they ended up in similar territory to Friday morning. As such, it's no surprise to see mortgage rates in similar territory as well. The average lender began the day 0.02% higher than Friday, but bonds improved during the day and some mortgage lenders were able to make small downward adjustments mid-day. This keep the average top-tier 30yr fixed rate just below 6.40% for the third straight day. From 5.99% in late February, rates spiked as high as 6.64% on March 27th. They've fallen noticeably but moderately since then, but the recent trajectory has been flattening out as the market waits to see how de-escalation may play out.
Monday, April 13, 2026 7:30:00 PM UTC
Mortgage Rates Remain Surprisingly Calm
If we're splitting hairs, today's average mortgage rates are technically higher than yesterday's, but the change is so small that it's just as fair to say that rates are flat. This closes out a week with surprisingly low volatility compared to that seen in March. In part, this can be attributed to longer-term oil prices being less volatile after moving down from their highs in late March. It's also a reflection of uncertainty surrounding the outcome of the Iran war. The war (specifically, the economic/inflation implications) continue to be primary source of motivation for rates even in the presence of economic data that would normally have an impact. Reason being: we haven't yet received big-ticket econ reports that have had a chance to bake in too much of the war's impact. Today's CPI inflation data was one of the first, but it came in close enough to forecasts to avoid making a strong case for rate volatility.
Friday, April 10, 2026 5:44:00 PM UTC
Mortgage Rates Trickle Just a Bit Lower
Many borrowers will see no difference between yesterday and today's mortgage rate quotes. The average lender moved just a hair lower. Once again, the rate market is responding to war-related headlines and their impact on oil prices. Rates don't always care what oil prices are doing, but at present, there's more correlation than normal due to the inflation implications from a protracted conflict. Inflation is the true concern for bonds/rates when it comes to oil. Today's headlines involved various de-escalation anecdotes, mainly centering on Israel and Lebanon. Prior to those headlines, rates were set to match yesterday's levels. Afterward, the average lender was 0.02% lower for a top tier 30yr fixed rate.
Thursday, April 9, 2026 7:25:00 PM UTC
Mortgage Rates Only Slightly Lower After Ceasefire News
It's a fluid situation in financial markets on Wednesday. The 2-week ceasefire in the Iran war caused a big reaction last night, but the benefit to the bond market (bonds dictate rates) has been increasingly wiped out during domestic hours. If we measure the reversal versus yesterday's closing levels at 5pm ET, the reversal is almost complete. But bonds were already rallying in the afternoon due to expectations for the official ceasefire news. All that to say, we're still in noticeably better shape than we were mid-day yesterday, but the overall improvement is smaller than most borrowers would expect. In fact, the average top-tier 30yr fixed rate is just barely at the low end of April's range at 6.40% vs the previous low of 6.41% on April 2nd. Earlier today, it was as low as 6.38%, but mortgage lenders made mid-day changes in response to bond market deterioration.
Wednesday, April 8, 2026 7:27:00 PM UTC
Mortgage Rates Little-Changed But Volatility Could Return Quickly
In stark contrast to the entire month of March, April's mortgage rate volatility has been downright boring. To put this in context, the average top tier 30yr fixed rate rose a substantial 0.65% by March 27th. In the first five business days of April, they've held inside a range of just 0.04%. Today did nothing to expand that range although it did leave rates microscopically higher versus yesterday. The Iran war continues to be the dominant source of inspiration for the financial markets, including the bond market that underlies interest rates. Given that tonight brings a deadline for a potentially major escalation in the war, there's a risk of volatility heading into tomorrow.
Tuesday, April 7, 2026 7:14:00 PM UTC
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