Mortgage Rates Ease Amid Calmer Market Conditions | Today, April 12, 2026

Today’s mortgage rates

Mortgage rates are moving lower again Sunday, with mortgage and refinance rates falling further since last weekend as the 10-year Treasury yield came in at 4.317%, down 1.8 basis points from 4.335%, and Freddie Mac’s 30-year average stood at 6.37%. That combination points to a modestly friendlier setup for borrowers shopping today.

The biggest market mover was oil: WTI crude came in at $95.63 a barrel, down $16.98 from $112.61. A drop that large can ease some inflation pressure tied to energy, even if the broader economic fallout from oil swings is less severe than it was decades ago.

Other markets showed a calmer but still mixed tone. Gold rose $94.90 to $4,771.00 an ounce, the Dow fell 0.56% and the S&P 500 slipped 0.11%, but the Nasdaq gained 0.35%, while CNN’s Fear & Greed Index improved to 37.7 from 22.6, still in fear territory. That suggests investors are less rattled than they were, not fully relaxed.

The main risk to further mortgage-rate improvement is the Fed. Minutes showed more Federal Reserve officials see possible rate hikes this year, and this week’s Durable Goods report, MBA mortgage applications data, and speeches from Austan Goolsbee and Philip Jefferson could still shift rate sentiment, so today’s dip may help borrowers who are ready to lock.

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 6.407%.

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 5.775%.

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 5.661%.

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 4.317% from 4.335% (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 decreased to $95.63 from $112.61 a barrel. (Good for mortgage rates.*)
• Gold prices increased to $4,771.0 from $4,676.10 an ounce. (Good for mortgage rates.*)
• CNN Business Fear & Greed Index increased to 37.7 from 22.6 out of 100. (Bad for mortgage rates.) “Fear” 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, mortgage borrowers are getting a little more help from the bond market. The 10-year Treasury yield, a key benchmark for mortgage pricing, was down to 4.317% from 4.335%, according to Yahoo Finance. Oil is the bigger swing: WTI crude dropped to $95.63 a barrel from $112.61, a $16.98 slide that takes some heat out of inflation worries. Gold rose to $4,771.0 an ounce from $4,676.1, while stocks were mixed, with the Dow down 0.56%, the S&P 500 off 0.11% and the Nasdaq up 0.35%. CNN’s Fear & Greed Index improved to 37.7 from 22.6, still in fear territory but less stressed than before.

Monday’s main report is the ISM Services Index at 10:00 a.m. ET. That one matters because services inflation has been one of the stickier parts of the economy; a hot reading can push Treasury yields and mortgage rates higher, while a softer number would support the recent easing. The broader backdrop is still a tug-of-war: markets are seeing some relief from lower oil and calmer trading, but recent coverage of Fed minutes pointing to possible rate hikes this year keeps pressure on rate-sensitive markets.

Tuesday is heavier. Durable Goods Orders hit at 8:30 a.m. ET, followed by Chicago Fed President Austan Goolsbee speaking at 12:35 p.m. ET, Consumer Credit at 3:00 p.m. ET and Fed Vice Chair Philip Jefferson at 5:50 p.m. ET. Durable goods can move rates if business demand looks stronger than expected, since that can feed the idea that the economy is still running too hot for quick Fed cuts. Fed speakers matter for the same reason: after the latest minutes, traders will be listening for any sign officials are still leaning hawkish.

Wednesday starts with MBA Mortgage Applications at 7:00 a.m. ET. That report usually doesn’t move markets as much as inflation or jobs data, but it does show whether borrowers are responding to rate moves in real time. For now, the week’s tone is better for home-loan shoppers than it was last weekend. Freddie Mac’s 30-year average was 6.37% on FRED, and today’s setup points to a calmer rate backdrop so long as the week’s data and Fed commentary don’t revive fears of higher-for-longer policy.

Recent trends

Freddie Mac’s April 12 report put the weekly 30-year fixed mortgage rate average at 6.37%. 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.