Today’s Mortgage Rates, April 29: Fed Decision Looms, 30‑Year Fixed Slightly Lower at 6.12%

If you're thinking about buying a home or refinancing, the news on April 29, 2026, is that the average rate for a 30-year fixed mortgage is holding steady, currently sitting around 6.12%. While this is a minor dip from yesterday and a more notable drop from the start of April, it suggests a period of cautious stability in the housing market as we await key economic decisions.

Today's Mortgage Rates, April 29: Fed Decision Looms, 30‑Year Fixed Slightly Lower at 6.12%

Based on the data from Zillow, here's a snapshot of where things stand today:

You can see that while the popular 30-year fixed rate has nudged down a bit, it's not a dramatic shift. Some of the shorter-term fixed rates are moving around, and the 15-year fixed actually ticked up a little. This kind of mixed movement is pretty common when the market is waiting for bigger news.

The Big Picture: What's Influencing Rates Today?

It feels like there's always something bubbling under the surface affecting mortgage rates, and today is no different. Here are the key players:

• The Fed's Big Decision: The Federal Reserve is wrapping up its two-day meeting today, with an announcement expected around 2:00 p.m. ET. The word on the street, and what the markets are betting on, is that they'll keep the federal funds rate right where it is. That's currently between 3.50% and 3.75%. This isn't surprising, but it's always a moment to watch to see if there are any hints about future moves.
• Inflation Fears are Back: We've seen oil prices climbing, hovering around $95 a barrel. Plus, the inflation numbers from March, showing a 3.3% CPI (Consumer Price Index), have some people talking about inflation again. When inflation is on the rise, it generally makes it harder for the Fed to think about cutting interest rates, and that keeps mortgage rates from falling too much.
• Global Tensions: Things happening in the Middle East are still causing a bit of a stir. When there's uncertainty in the world, investors often move their money to safer places, like government bonds. This increased demand for bonds can push their yields down, and as you'll see next, bond yields are a big influence on mortgage rates.
• Bond Yields: The Mortgage Rate's Best Friend (or Foe): The 10-year Treasury yield is what many mortgage lenders look at when setting their rates. Today, it's sitting around 4.32%. Think of it as a barometer; when this yield goes up, mortgage rates tend to follow, and vice-versa. Right now, it's showing a steady, if not slightly elevated, level.

What I'm Seeing in the Market Right Now

From my perspective, the housing market has definitely shifted gears. After a period of falling rates in late 2024 and much of 2025, we've been stuck in this zone – the low to mid-6% range for 30-year fixed mortgages – for quite a while in 2026. It feels like momentum has stalled a bit.

There's this psychological thing with the 6% mark. Many people believe if rates can firmly dip below that, it'll really get buyers excited and maybe even bring some sellers back into the fold. But for now, we're hovering just above it.

Interestingly, even with these rates, according to Redfin, there are more sellers out there than buyers across the country – about 43% more sellers. This is good news for buyers! It means you often have more room to negotiate. Sellers might be more willing to offer concessions, cut their prices, or be flexible on closing terms.

What Does This Mean for You?

• If You're Buying a Home: The 6.12% rate for a 30-year fixed means your monthly payments will still be a significant chunk of your budget. However, the fact that inventory is a little higher means you have more power. Don't be afraid to negotiate for the best possible deal. It’s a buyer’s market in many areas, and that’s a big advantage.
• If You're Thinking About Refinancing: If you have a mortgage with a rate well above 6.5%, it might be worth exploring a refinance. Just be sure to crunch the numbers carefully. Look at the closing costs and calculate your break-even point. Sometimes, even with a lower rate, the upfront costs can take a while to pay off.
• Looking Ahead: Today's Fed announcement is important. If they signal anything that hints at inflation easing up, we might see rates inch closer to that coveted 6% mark. That could open up more opportunities, especially for those looking to refinance.

The Bottom Line:

As of April 29, 2026, the 30-year fixed mortgage rate is at 6.12%. It’s a bit lower than yesterday and significantly lower than the beginning of the month, but it's not making huge leaps. With the Fed expected to stay put and inflation still a concern, rates are in a quiet waiting pattern. For both buyers and those considering refinancing, keeping an eye on that 6% threshold is key. If rates cross it, we could see some exciting changes in how many people are actively buying and selling homes.