Mortgage rates rose again this week, with the 30-year fixed rate averaging 6.19%, up from 6.15% last week, according to Bankrate’s latest lender survey.
|
Loan type |
Current |
4 weeks ago |
A year ago |
52 week average |
minimum of 52 weeks |
|---|---|---|---|---|---|
|
30 years |
6.19% |
6.16% |
6.77% |
6.51% |
6.09% |
|
15 years |
5.50% |
5.50% |
5.99% |
5.74% |
5.45% |
|
30 year old jumbo |
6.28% |
6.33% |
6.87% |
6.59% |
6.22% |
30-year fixed mortgages in this week’s survey had an average total of 0.35 discount and origination points. Discount points are a way to reduce your mortgage rate, while origination points are fees lenders charge to originate, review and process your loan.
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The national median household income for 2025 was $104,200, according to the U.S. Department of Housing and Urban Development (the 2026 estimate has not yet been released), and the median price of an existing home sold in February 2026 was $398,000, according to the National Association of Realtors. Based on a 20% down payment and a 6.19% mortgage rate, the monthly principal and interest payment of $1,948 is approximately 22% of a typical family’s monthly income.
Meanwhile, home prices have begun to fall in many once-popular markets. Half of the country’s 50 largest metropolitan areas experienced price declines over the past year, Zillow reported in early February. Separately, the S&P Cotality Case-Shiller Index released on February 24 showed that national home prices grew just 1.3% in 2025. That was the weakest result since 2011, when prices fell 3.9%.
“With more housing inventory coming online and home prices starting to stabilize, this remains a promising environment for those looking to purchase or refinance,” says Samir Dedhia, CEO of One Real Mortgage.
The Federal Reserve is expected to hold its benchmark interest rate steady at its March meeting. The big variable for now is the war in Iran: President Donald Trump’s military action in Iran raised oil prices and shook markets, in addition to raising mortgage rates.
“Despite mounting economic data showing a weakening U.S. economy, the ongoing conflict in Iran is keeping mortgage rates above 6%,” says Jeff DerGurahian, chief investment officer and chief economist at CreditDepot. “Without geopolitical tensions, we would likely see a 10-year Treasury well below 4%, with mortgage rates at level 5.”