Mortgage rates aren't so much higher today as they are back to normal. Average mortgage rates, last 30 days» Take the next step: Compare mortgage rates from NerdWallet’s top lenders📉 When will mortgage rates drop? Mortgage rates are constantly changing, since a major part of how rates are set depends on reactions to new inflation reports, job numbers, Fed meetings, global news ... you name it. If you already have a quote you’re happy with, you should consider locking your mortgage rate, especially if your lender offers a float-down option. » Get the best rate for you: How to get the best mortgage rate👀 If I apply now, can I get the rate I saw today?