Weekly Mortgage Rates Flat; Jobs Report Is Surprisingly Strong

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Weekly Mortgage Rates Flat; Jobs Report Is Surprisingly Strong Employment gains mean that the Fed can focus on inflation at its meeting later this month. Written by Taylor Getler Taylor Getler Lead Writer & Content Strategist 4 years of experience Expertise Home equity first-time home buying home warranties Taylor Getler is a home and mortgages writer for NerdWallet. Her work has been featured in outlets such as MarketWatch, Yahoo Finance, MSN and Nasdaq. Taylor is enthusiastic about financial literacy and helping consumers make smart, informed choices with their money. Published in Edited by Johanna Arnone Johanna Arnone Managing Editor 18 years of experience Expertise Mortgage lenders homebuying home equity Johanna Arnone helps lead coverage of homeownership and mortgages at NerdWallet. She has more than 15 years' experience in editorial roles, including six years at the helm of Muse, an award-winning science and tech magazine for young readers. She holds a Bachelor of Arts in English literature from Canada's McGill University and a Master of Fine Arts in writing for children and young adults.Practice making complicated stories easier to understand comes in handy every day as she works to simplify the dizzying steps of buying or selling a home and managing a mortgage. Johanna has also completed coursework in Boston University’s Financial Planning Certificate program. She is based in New Hampshire. other Published Apr 3, 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 More on our editorial rigor SOME CARD INFO MAY BE OUTDATED This page includes information about these cards, currently unavailable on NerdWallet. The information has been collected by NerdWallet and has not been provided or reviewed by the card issuer. Weekly mortgage rates stayed largely flat, breaking a six-week streak of increases. Rates remain stubbornly elevated compared to where they were at the beginning of 2026. On a day-to-day basis, the average 30-year rate has been flirting with 6.5% APR. If it does reach that threshold, it will be for the first time since September 2025. The average 30-year fixed mortgage rate dropped one basis point to 6.37% APR in the week ending April 3, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point. Don’t count on the Federal Reserve to lower borrowing rates any time soon. Analysts are nearly unanimous in their prediction that central bankers will vote to keep the federal funds rate steady at their April 28-29 meeting, as economists are only just beginning to get their hands on data that clarifies the impact of the Iran war on the economy. Fed is unlikely to worry about employmentThe Bureau of Labor Statistics released the March jobs report this morning, showing employment gains of 178,000 — far stronger than both February (-92,000) and January (+126,000). Despite ups and downs with hiring, the unemployment rate has remained fairly stable in 2026 so far. “Today’s increase is significant, but it doesn’t mean the labor market is back on track or growing robustly,” says Elizabeth Renter, NerdWallet senior economist. “The gains are highly concentrated in a few industries, not broad-based across the economy.” These growing industries were healthcare, construction, transportation and warehousing.If the war drags on, future jobs reports could be a lot more grim, Renter says. For right now, however, all we have is the data in front of us. As it stands, central bankers are unlikely to see the current job market as a major threat to the economy. Inflation may be the Fed’s chief concern at the moment.Two key inflation reports — the Personal Consumption Expenditures Price Index (PCE) and Consumer Price Index (CPI) — are scheduled for release next week. The war in Iran has put upward pressure on oil prices, which could cause inflation to rise. Explore mortgages today and get started on your homeownership goals Get personalized rates. Your lender matches are just a few questions away. What's your zip code?Do you want to purchase or refinance?Select your optionPurchaseRefinanceWhat's your property type?Select your optionSingle family homeCondoTownhouseHow do you plan to use this property?Select your optionPrimary residenceSecondary homeInvestment propertyGET STARTED Won't affect your credit score What this means for mortgage ratesThe Federal Reserve does not set mortgage rates, but it can influence their direction. If data shows that inflation is on an upward trajectory, the Fed is unlikely to cut the federal funds rate. In fact, the majority of analysts are now predicting that the Fed won’t touch rates at all for the rest of the year, though that forecast could change. Without action from the Fed, we can expect that mortgage rates will probably stay elevated for as long as oil prices remain volatile. While rates could rise this month, borrowers do have some things within their control. A strong credit score and a minimal amount of debt will help home shoppers qualify for the best available mortgage rates now, and will position homeowners to apply for a refinance when rates eventually drop. Explore more onHow to Move in 2026Mortgages Article sources Article sources NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines. Back to top Related articles What Is APR and How Does It Affect Your Mortgage?

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