Current mortgage rates are up and higher than they were seven days ago. Rates are lower than they were in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. Even though Federal Reserve policy doesn’t directly impact today’s mortgage rates, they have been easing since the Fed began cutting rates in late 2024.

A rise in mortgage interest rates has led to a decline in people applying for home loans and homeowners refinancing.

“Treasury yields finished higher last week on average despite an intra-week drop, driven partly by renewed concerns of the impact of tariffs on the economy,” says Joel Kan, deputy chief economist at the Mortgage Bankers Association.