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Mortgage Rates Today, Thursday, May 7: A Substantial Drop

NerdWallet·Kate Wood·26 days ago
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SOME CARD INFO MAY BE OUTDATED This page includes information about these cards, currently unavailable on NerdWallet. The information has been collected by NerdWallet and has not been provided or reviewed by the card issuer. If you're following mortgage rates daily, you may recall that yesterday I said rates were probably about to drop — and here's that drop. Mortgage rates are significantly lower today as the prospect of an end to the Iran war feels within reach. Iran is expected to respond to the U.S.'s proposed plan today. If that goes well, mortgage rates could head even lower. If an agreement isn't reached… what rates do next will depend on how both sides react. The average interest rate on a 30-year, fixed-rate mortgage fell to 6.15% APR, according to rates provided to NerdWallet by Zillow. This is 23 basis points lower than yesterday and 12 basis points lower than a week ago. (See our chart below for more specifics.) A basis point is one one-hundredth of a percentage point.…

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