Mortgage Rates Rise to 6.38%, Signaling Housing Market Volatility
Event summary
- Freddie Mac's Primary Mortgage Market Survey® shows the 30-year fixed-rate mortgage (FRM) averaged 6.38% as of March 26, 2026, up from 6.22% last week.
- The 15-year FRM averaged 5.75%, up from 5.54% last week.
- Year-over-year, the 30-year FRM is down from 6.65%, and the 15-year FRM is down from 5.89%.
- Purchase and refinance applications are up year-over-year despite recent rate volatility.
The big picture
The rise in mortgage rates to 6.38% reflects ongoing volatility in the housing market, despite year-over-year improvements. Freddie Mac's data suggests that while purchase and refinance applications are up, the market remains sensitive to interest rate fluctuations. This dynamic underscores the broader trend of economic uncertainty impacting housing affordability and liquidity.
What we're watching
- Rate Volatility Impact
- How sustained rate increases will affect homebuyer demand and refinance activity.
- Market Stability
- Whether the housing market can maintain gradual improvements amid fluctuating rates.
- Economic Indicators
- The pace at which economic factors influence mortgage rate trends.
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