Mortgage Rates Today, Monday, July 13: A Little Higher

Yes, mortgage interest rates are higher today, but only slightly.

The average interest rate on a 30-year, fixed-rate mortgage has risen to 6.46% APR, according to rates provided by Zillow’s NerdWallet. This is two basis points higher than Friday and seven basis points higher than a week ago. (See our chart below for more specifics.) A basis point is one hundredth of a percentage point.

As of July 2, mortgage rates have consistently remained above June’s monthly average of 6.34%. With more than two weeks left until the next Federal Reserve meeting on July 28-29, analysts are clearly divided on whether central bankers will vote to raise or hold overnight borrowing rates. If the winds continue to blow toward a rate hike, lenders are likely to raise their own rates in the coming days and weeks.

🤓 Kate at Rate: July 9, 2026

This week, the Nerds are paying attention to the June Consumer Price Index, which will be released by the Bureau of Labor Statistics on Tuesday. Although it is not the Federal Reserve’s preferred measure of inflation, the CPI is still an important benchmark. “We may not see the same amount of acceleration in inflation for June as we did last month, but price growth will remain high and may accelerate a bit,” according to NerdWallet Senior Economist Elizabeth Renter.

There are four more Fed meetings until the end of the year, and markets think the chances of central bankers raising rates will increase with each meeting.

Refinancing may make sense if current rates are at least 0.5 to 0.75 percentage points lower than your current rate (and if you plan to keep your home long enough to break even on closing costs).

With rates where they are now, you may want to start considering a refi if your current rate is around 6.96% or higher.

There is no universal “right” time to start shopping – what matters is whether you can comfortably pay off a mortgage now at today’s prices.

Rate locks protect you from increases while your loan is being processed, and with the market in perpetual flux, that peace of mind may be worth it.

In addition to market factors outside of your control, your customized quote depends on your:

Although two people with similar credit scores can get different rates, depending on their overall financial profiles.

Maybe – but even personal rate quotes can be changed until locked. That’s because lenders adjust the price several times a day in response to changes in the market.

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