rewrite this title Weekly Mortgage Rates Tick Up, But Seasoned Shoppers Shrug – NerdWallet

Mortgage rates moved slightly higher this week. But whether that feels like good news or bad news depends on one thing: when you started shopping for a home.

The average rate on a 30-year fixed-rate mortgage rose four basis points to 6.51% APR in the week ending July 23, according to rates provided to NerdWallet by Zillow. (A basis point is one one-hundredth of a percentage point.) We calculate our weekly average using daily APRs recorded over the past five business days.

Ups and downs are normal in the mortgage market. This week’s increase was modest, given the growing instability in the Middle East. The re-escalation of fighting with Iran pushed Brent crude prices — the global oil benchmark — above $100 a barrel today, the highest level since May. Higher energy costs fan the flames of inflation, which puts upward pressure on mortgage rates.

Mortgage rates rarely stay in one place for long. If you recently started looking for a home, this week’s increase is just one of many you’ll see — so don’t try to time the market perfectly.

For context, in the past 45 days, NerdWallet’s daily average for a 30-year fixed-rate mortgage has seen a low of 6.15% APR and a high of 6.59% APR.

If your New Year’s resolution was to buy a home, 2026 has tested your resolve.

Since late February, mortgage rates have climbed from the upper-5% range to around 6.5% as the war in Iran rattled financial markets. That half-percentage-point increase may not sound like much, but on a $400,000 30-year fixed-rate mortgage, it adds nearly $150 a month in interest.

“In this kind of environment, we’re unlikely to see mortgage rates drop,” says Kate Wood, lending expert at NerdWallet.

Your takeaway: Keep in mind that mortgage rates aren’t the only part of the equation. As summer winds down, sellers are often more willing to negotiate. Rather than stressing about recent rate trends, know where you have leverage as a buyer and don’t be afraid to use it.

If you’ve been house hunting since last year or earlier, you’ve probably learned one of the hardest lessons in homebuying: There’s always a reason to wait, whether it’s for less competition or lower mortgage rates.

Your takeaway: Don’t wait for every piece to fall into place. A home that fits your needs and your budget is worth more than perfect market timing.

About the author

Abby Badach Doyle has been writing about homeownership and mortgages for NerdWallet since 2022. Her work has been featured in outlets including The Associated Press, The Washington Post and The Seattle Times. From interactive tools to practical advice, Abby is passionate about making the homebuying journey less stressful — especially for first-time buyers.

As a reporter, she is interested in writing about innovative housing solutions (like co-living) and personal stories about how homeownership builds community and a sense of belonging.

Abby is also a musician, songwriter and producer who knows the challenge of balancing creative fulfillment with financial stability. In 2024, she produced a special episode of NerdWallet’s “Smart Money” podcast on how to navigate income swings in a creative career.

Abby is based in Pittsburgh, a city defined by working-class grit and neighborly spirit. When she’s not writing about personal finance, she’s at her urban homestead: playing fiddle, raising chickens and preserving the bounty from her garden.