After a sizable drop at the end of last week, mortgage rates are back up again today.

The average interest rate on a 30-year, fixed-rate mortgage jumped to 7.20% APR, according to rates provided to NerdWallet by Zillow. This is 12 basis points higher than Friday but three basis points lower than a week ago. (See our chart below for more specifics.) A basis point is one one-hundredth of a percentage point.

Rates fell last week in response to news from specific sectors, namely AI. With a slate of major economic reports and meetings scheduled for this week, we could see lenders reacting to analysis of the economy as a whole over the coming days.

Average mortgage rates, last 30 days

🤓 Kate on Rates, 10/22/26

📈 What influences mortgage rates?

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.…