The average rate on a 30-year fixed-rate mortgage rose to 7.24% APR, according to rates NerdWallet obtained from Zillow. That is one basis point above yesterday and eight basis points below a week ago, so the article calls rates essentially stable. Rates had dropped recently as bond prices rose and yields fell, because some investors moved to bonds amid doubts that tech firms' profits can cover AI spending. Mortgage rates generally track the 10-year Treasury note yield, and the article says it is too early to call a decisive turn. Refinancing may make sense if today's rates are at least 0.5 to 0.75 percentage points below your current rate, or if your current rate is around 7.74% or higher.
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