Mortgage rates have seen a recent increase following President Donald Trump’s announcement of new tariffs. The 10-year Treasury yield has ticked back up above 4% this week, causing mortgage rates to rise.
While the impact of tariffs on inflation is still uncertain, experts believe that higher inflation could lead to higher mortgage rates in the future. Federal Reserve Chair Jerome Powell recently stated that the central bank will continue to monitor the situation before making any decisions about raising interest rates.
Currently, 30-year fixed-rate mortgages are around 6%, while 15-year fixed-rate mortgages are at 5.8%. However, these numbers are subject to change as economic trends and Fed policies evolve.
It’s essential for borrowers to consider their individual circumstances and whether refinancing or purchasing a home makes sense given the current market conditions. Refinancing might be beneficial if you can save enough each month to recoup your costs in a reasonable amount of time, but it depends on various factors such as credit score, debt, and down payment.
To stay ahead of the curve, borrowers should monitor mortgage rate trends and adjust their strategies accordingly. As inflation continues to evolve, so do mortgage rates.
Source: https://www.businessinsider.com/todays-mortgage-rates-tuesday-8-2025-4