30-Year Mortgage Rates Stabilize at 6% in Early 2026
Event summary
- Freddie Mac's Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaged 6.00% as of March 5, 2026, up slightly from 5.98% the prior week.
- The 15-year FRM averaged 5.43%, down from 5.44% the previous week.
- Year-over-year, the 30-year FRM has decreased from 6.63% in early 2024, while the 15-year FRM has dropped from 5.79%.
- Refinance activity and purchase applications are ahead of last year's pace, according to Freddie Mac's Chief Economist Sam Khater.
The big picture
The stabilization of mortgage rates near their lowest levels since 2022 reflects broader economic cooling and central bank policies aimed at balancing inflation and growth. This trend is spurring increased activity in both the purchase and refinance markets, which could signal a shift in housing market dynamics. Freddie Mac's role in promoting liquidity and affordability in the housing market remains critical amid these fluctuations.
What we're watching
- Rate Stability
- Whether the current stabilization of mortgage rates will continue or if external economic factors will drive volatility.
- Housing Demand
- How sustained lower rates will impact purchase applications and refinance activity in the coming months.
- Economic Indicators
- The pace at which broader economic conditions, such as inflation and employment, will influence mortgage rate trends.
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