Current mortgage rates are up today and higher than they were seven days ago. Rates are lower than they were in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. But rates are still relatively high as fears around stubborn inflation have kept the Federal Reserve from lowering its benchmark rate until now.

The Federal Reserve cut its influential fed funds rate this afternoon for the third time in as many meetings. Follow along with our live coverage of the Fed meeting.

At the same time, waiting for mortgage interest rates to decline further is inherently risky. And mortgage interest rates for qualified borrowers may already be low enough to justify taking action, particularly if it helps buyers get ahead of increased competition to come in 2026.

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Today, the average interest rate on a 30-year, fixed-rate mortgage ticked down to 6.14% APR, according to rates provided to NerdWallet by Zillow. This is just one basis point lower than yesterday but 14 basis points higher than a week ago. (See our chart below for more specifics.) A basis point is one one-hundredth of a percentage point.

Jenna announced Dec. 9 that Sheinelle will join her on the newly-named TODAY with Jenna & Sheinelle. On Jan. 12, Sheinelle will become the fourth hour’s first permanent co-host since Hoda Kotb departed the show.

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