If you've been waiting for lower mortgage rates, today just might be your day. 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. » Learn more: How the Fed affects mortgage rates🏡 Should I start shopping for a home? » 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?