US Mortgage Rates Hit 5-Month High

2026-03-25 11:06 By Joana Ferreira 1 min. read

The average US 30-year fixed mortgage rate for conforming loans of $806,500 or less climbed to 6.43% for the week ending March 20, 2026, its highest level since early October and the third straight weekly increase.

As mortgage rates closely follow Treasury yields, fears of an oil price shock have driven the 10-year note higher, lifting borrowing costs and deepening affordability challenges for homebuyers.

The surge in rates has severely dampened mortgage activity, with total applications plummeting 10.5%, following a 10.9% drop the previous week.

Refinancing activity led the decline, collapsing 14.6%, while purchase applications fell 5.4%, signaling a broad slowdown in housing demand.



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US Mortgage Rates Hit 5-Month High
The average US 30-year fixed mortgage rate for conforming loans of $806,500 or less climbed to 6.43% for the week ending March 20, 2026, its highest level since early October and the third straight weekly increase. As mortgage rates closely follow Treasury yields, fears of an oil price shock have driven the 10-year note higher, lifting borrowing costs and deepening affordability challenges for homebuyers. The surge in rates has severely dampened mortgage activity, with total applications plummeting 10.5%, following a 10.9% drop the previous week. Refinancing activity led the decline, collapsing 14.6%, while purchase applications fell 5.4%, signaling a broad slowdown in housing demand.
2026-03-25
US 30-Year Mortgage Rates Rise to 6.30%
The average contract rate on 30-year fixed-rate mortgages for conforming loans of $806,500 or less in the US increased to 6.30% in the week ending March 13, 2026, up from 6.19% the previous week, according to the Mortgage Bankers Association. This marks the highest level since late December, putting pressure on mortgage activity. Total mortgage applications plunged 10.9%, reversing a 3.2% gain from the prior period, with refinancing activity dropping sharply by 18.5%. Meanwhile, applications for home purchases edged up slightly by 0.9%.
2026-03-18
US 30-Year Mortgage Rates Tick Higher
The average contract rate on 30-year fixed-rate mortgages for conforming loans of $806,500 or less in the US climbed to 6.19% in the first week of March 2026, up from 2022-lows of 6.09%, according to the Mortgage Bankers Association. Mortgage activity showed continued momentum, with total applications rising 3.2%, following an 11% surge in the previous period. Applications for home purchases jumped 7.8%, while refinancing activity edged up modestly by 0.5%.
2026-03-11