# Mortgage Rates Drop Today Mortgage interest rates slightly decreased as inflation fell. - **Source:** [NerdWallet](https://brifing.si/source/47fee75b-2b5e-493d-9ac3-f012b6c37891) - **Published:** 2026-07-15 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/64d00331-ad36-4bec-83bf-192a334d58a5 ## Decline in Mortgage Rates Today, the average rate on a 30-year fixed-rate mortgage dropped to 6.45%. This is eight basis points lower than yesterday but one basis point higher than a week ago. Falling inflation reduces the likelihood of Fed rate hikes, pushing mortgage rates lower. ## Inflation and Mortgage Rates Mortgage rates constantly fluctuate based on factors like inflation reports, job data, and Fed meetings. For instance, even minor changes in the bond market can impact mortgage pricing. This week, the June Consumer Price Index is in focus. ## Impact of Fed Meetings Changes in the federal funds rate by the Fed ripple through the economy. Mortgage lenders price in expected rate changes well in advance. Thus, anticipated rate hikes can exert upward pressure on mortgage rates. ## Refinancing Tips Refinancing might make sense if today’s rates are at least 0.5-0.75 percentage points lower than your current rate. If your rate is around 6.95% or higher, consider refinancing. Think about goals like lowering monthly payments or shortening your loan term. ## Preparing for Home Purchase The right time to buy a home depends on whether you can comfortably afford payments at today’s rates. Focus on getting preapproved, comparing lender offers, and determining a budget-friendly monthly payment. If buying isn’t feasible now, reduce debts and save for a down payment. ## Rate Lock Considerations If you’re satisfied with a quote, consider locking your mortgage rate, especially if your lender offers a float-down option. Rate locks protect against increases during loan processing, providing peace of mind amid market volatility. ## Sources covering this story - https://www.nerdwallet.com/mortgages/news/mortgage-rates-today-wednesday-july-15-2026 — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._