If you've seen contradictory headlines about mortgage interest rates today, that's because rates are in an unusual spot. Where rates have been, where they are right now, and where they could go are three separate, but related, stories.
Let's start with where rates have been. The average rate on a 30-year fixed-rate mortgage rose 13 basis points to 6.24% APR in the week ending May 7, 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 last five business days.
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