Mortgage Rates Today, Tuesday, April 21: Higher Amid Uncertainty

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TL;DR: Mortgage rates were moving down thanks to ceasefire optimism, but that outlook's gotten less rosy.

Kate Wood

Senior Writer/Spokesperson

personal loans

Managing Editor

Published Apr 21, 2026 Fact Checked How is this page expert verified? NerdWallet's content is fact-checked for accuracy, timeliness and relevance. It undergoes a thorough review process involving writers and editors to ensure the information is as clear and complete as possible. More on our editorial rigor SOME CARD INFO MAY BE OUTDATED

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Average mortgage rates, last 30 days

📉 When will mortgage rates drop?

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• Lenders sell mortgages on the secondary market where the loans are pooled and packaged into mortgage-backed securities (MBS), which are investments that pay a fixed rate of return.
• MBS attract similar investors to bonds like Treasuries, which also pay a fixed rate of return. Thanks to refinancing and home sales, 10 years is a safe overall lifespan estimate for mortgages, hence the benchmark to the 10Y T-note. Because mortgages are a little riskier, MBS will always have a slightly higher return than 10-year Treasuries.
• Mortgage rates are determined by lenders adding a set amount — the "spread" — to the yield, or return on, a 10Y T-note. The spread covers the lenders' costs as well as the risk premium investors will demand.

🔁 Should I refinance?

🏡 Should I start shopping for a home?

🔒 Should I lock my rate?

🧐 Why is the rate I saw online different from the quote I got?

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• Credit score
• Debt-to-income ratio
• Employment history
• Down payment
• Type of mortgage
• Location and property type
• Loan amount

👀 If I apply now, can I get the rate I saw today?