Today's Mortgage Market Shift Rise to 6.66%

Written By Liz Fischer

Mortgage rates took a small step up this week, with the average 30-year fixed rate sitting at 6.66%

(up +0.08% from last week) and the 15-year fixed holding at 6.04%.

This minor uptick is mainly driven by recent inflation reports and shifts in Treasury bond yields.

What It Means For Your Wallet

A small rate increase like this adds roughly $15 to $25 to your monthly payment on a standard loan. While borrowing costs moved slightly higher, expanding home inventory still gives you great bargaining leverage to request seller-paid closing cost credits.

Your Game Plan

If you've found a home within your budget, lock in your rate now to protect yourself against sudden market bumps, you can always refinance if rates drop in the future!

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Today's Mortgage Market Shift Rise to 6.66%
Today's Mortgage Market Shift Rise to 6.66%

Rates took a slight bump to 6.66% this week. Here is a quick 60-second breakdown of what this means for your monthly payment, buying power, and whether you should lock or float your rate today!

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Liz Fischer
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Mortgage Rates Jumps To Highest Levels in a Week