30-Year Fixed Mortgage Rate Rises to 6.22%, Still Below Year-Ago Levels
Event summary
- Freddie Mac's Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage averaged 6.22% as of March 19, 2026, up from 6.11% last week.
- The rate remains nearly half a percentage point lower than the 6.67% recorded a year ago.
- The 15-year fixed-rate mortgage averaged 5.54%, up from 5.50% last week and down from 5.83% a year ago.
- Freddie Mac's Chief Economist Sam Khater notes improvements in purchase applications and pending home sales.
The big picture
The slight increase in the 30-year fixed mortgage rate to 6.22% comes amid broader market improvements in homebuying activity. Freddie Mac's data suggests a more affordable spring homebuying season compared to last year, reflecting ongoing adjustments in the housing market. The strategic anomaly here is the balance between rising rates and improving market conditions, which could influence investor and operator strategies in the real estate sector.
What we're watching
- Market Affordability
- How sustained lower mortgage rates will affect homebuyer affordability and market activity.
- Economic Indicators
- Whether the improvements in purchase applications and pending home sales will continue into the spring season.
- Rate Trends
- The pace at which mortgage rates may rise or fall in response to broader economic conditions.
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