Mortgage Rates Hold Steady Ahead of Fed Meeting | Today, April 29, 2026

Today’s mortgage rates

Mortgage rates look mostly steady today, with markets staying quiet ahead of the Federal Reserve meeting and rate coverage broadly framing 30-year fixed loans as stable. The 10-year Treasury yield came in at 4.366%, down 0.6 basis points from 4.372%, a small move that tends to support flat to slightly better mortgage pricing.

Other market inputs were mixed: WTI crude oil rose to $103.26 a barrel from $100.62, while gold fell to $4,577.9 an ounce from $4,592.4 and CNN’s Fear & Greed Index slipped to 63.8 from 67.9. That mixed setup limits the case for a bigger move in mortgage rates this morning.

Borrowers should also watch the Fed backdrop and this morning’s data, including MBA mortgage applications at 7 a.m. ET and durable goods orders, housing starts and permits, and wholesale inventories at 8:30 a.m. ET. If those reports come in hotter or cooler than expected, lenders could adjust pricing later today.

Although rates have elevated from recent lows, see if refinancing makes sense or tapping home equity is prudent. For home buyers, explore expert advice for 2026 and check if you qualify for financial assistance programs or more flexible loan options.

Current mortgage and refinance rates

>Related: 7 Tips to get the best refinance rate

30-year fixed rate mortgage

At the time this was published, the average 30-year fixed mortgage rate reached 6.396%.

The average 30-year fixed rate mortgage (FRM) hit a record weekly low of 2.65% on Jan. 7, 2021, and a record weekly high of 8.89% on Dec. 16, 1994, according to Freddie Mac.

A 30-year FRM gives borrowers an affordable option but you pay more interest over the life of the loan compared to shorter mortgages.

15-year fixed rate mortgage

Today, the average 15-year fixed mortgage rate went to 5.732%.

The average 15-year FRM hit a record weekly low of 2.1% on July 29, 2021, and a record weekly high of 18.63% on Sep. 10, 1981, according to Freddie Mac.

The 15-year FRM offers borrowers a briefer term with less accrued interest, but the monthly payments will be much higher.

5/1 adjustable-rate mortgage

This morning’s 5/1 adjustable rate mortgage averaged 5.557%.

Adjustable-rate mortgages (ARMs) typically have lower initial interest rates compared to fixed loans. Once that initial period ends, the interest rate adjusts to the current market conditions. In this case, the initial period is five years and the adjustments are up to once every year. Homeowners with shorter term lending plans tend to see these as advantageous.

What experts are expecting

Ralph DiBugnara, president at Home Qualified

“I expect rates to stay in a relatively similar range as where they ended in March, likely hovering in the low-to-mid 6% range. Current global uncertainty and inflation data will keep volatility in play. Also any rate cuts at all by the Fed may be in jeopardy now so that will keep markets frozen some. Unless we get a clear cooling signal from the Fed, don’t expect a drop. The 30-year fixed should average around 6.25% with the 15 year fixed at 5.875%“

Market data affecting today’s mortgage rates

Here’s a snapshot of the state of play as this article was published. The data mostly compares to roughly the same time the business day before, so much of the movement will often have happened in the previous session.

• The yield on 10-year Treasury notes decreased to 4.366% from 4.372% (Good for mortgage rates). Mortgage rates often follow these Treasury bond yields.
• Major stock indexes were mixed this morning. (Mixed for mortgage rates.) When investors sell shares and move into bonds, bond purchases can push prices up and yields down, potentially easing mortgage rates.
• Oil prices increased to $103.26 from $100.62 a barrel. (Bad for mortgage rates.*)
• Gold prices decreased to $4,577.9 from $4,592.40 an ounce. (Bad for mortgage rates.*)
• CNN Business Fear & Greed Index decreased to 63.8 from 67.9 out of 100. (Good for mortgage rates.) “Greed” suggests investors are seeking safety, supporting bond prices.

*A movement of less than $20 on gold prices or 40 cents on oil prices is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.

Caveats about markets and rates

Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. But that’s no longer the case. We still make daily calls. And are usually right. But our record for accuracy won’t achieve its former high levels until things settle down.

So, use markets only as a rough guide. Because they have to be exceptionally strong or weak for us to rely on them. But, with that caveat, mortgage rates today might nudge upward or barely budge. However, be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.

What’s driving mortgage rates today?

This week

This week starts with a waiting game for mortgage markets. Early Tuesday, the 10-year Treasury yield was at 4.366%, down from 4.372%, a small move but one that gives rates a little support. Stocks were flat, with the Dow, S&P 500 and Nasdaq all unchanged, while CNN’s Fear & Greed Index slipped to 63.8 from 67.9, still in greed territory. Other market gauges were mixed: WTI crude rose to $103.26 per barrel from $100.62, which can feed inflation worries, and gold fell to $4577.9 an ounce from $4592.4. The broad setup leaves mortgage rates looking mostly steady heading into the Federal Reserve meeting.

Monday’s main scheduled report was Consumer Confidence at 10:00 a.m. ET, a high-impact release because it can shift expectations for consumer spending and the broader economy. Stronger confidence can push Treasury yields higher if investors think growth and inflation will stay firm. We’re now past that report and into a much busier Tuesday morning, with lenders and bond traders watching several releases before the market has fully settled.

At 7:00 a.m. ET Tuesday, the Mortgage Bankers Association posts mortgage applications, a medium-impact housing read that shows how borrowers are responding to current rate levels. Then at 8:30 a.m. ET comes the heavy part of the calendar: Durable Goods Orders, Housing Starts and Permits, and Advance Wholesale Inventories. Durable goods is the big macro report in that group because it offers a read on business demand and manufacturing momentum. Starts and permits matter more directly to the housing market, since they show how much new supply is in the pipeline. Wholesale inventories can affect GDP tracking, though it usually matters less for mortgage pricing than Treasurys and Fed expectations.

The bigger driver for the rest of the week is the Fed. News coverage has centered on a hold, and that expectation is a big reason markets are calm this morning. Freddie Mac’s weekly 30-year average was last at 6.23%, while some daily rate trackers have shown 30-year fixed quotes closer to the mid-6% range in recent days, a reminder that survey averages and daily lender pricing do not always move together. For now, with no major shock in the data and Treasury yields only slightly lower, the week’s story is stability first, then whatever the Fed and Chair Jerome Powell give markets next.

Recent trends

Freddie Mac’s April 29 report put the weekly 30-year fixed mortgage rate average at 6.23%. Freddie’s data serves as a market barometer and trend tracker, but individual rates vary by lender and depend on personal financial profiles.

Expert forecasts for mortgage rates

Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.

Here are their quarterly rate forecasts for the next year.

The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie updated its forecast on March 10 and the MBA updated theirs on March 23.

Of course, given so many unknowables, these forecasts might be even more speculative than usual. And their past record for accuracy — due to the volatile nature of interest rates — hasn’t been wildly impressive.

Mortgage rate methodology

The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.

Current mortgage rates methodology

We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.