NerdWallet’s rates are expressed as an annual percentage rate , or APR, and our mortgage rates data comes from Zillow. If inflation's looking rough, any downward movement mortgage rates get off of today's employment data is likely to be curtailed. The housing market A hot housing market can make it harder to find lower mortgage rates. Explore NerdWallet's Homebuying Climate Index Proprietary research based on the latest federal dataHow to compare today's mortgage ratesHere's a breakdown of what you're looking at when you view mortgage interest rate offers. Savings exampleWhether you're looking at sample rates on lenders' websites or comparing personalized rates here, you'll notice that interest rates vary.