Mortgage rates moved up 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 | One year ago | 52-week average | 52-week low |
|---|---|---|---|---|---|
30-year | 6.19% | 6.16% | 6.77% | 6.51% | 6.09% |
15-year | 5.50% | 5.50% | 5.99% | 5.74% | 5.45% |
30-year jumbo | 6.28% | 6.33% | 6.87% | 6.59% | 6.22% |
The 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 lower your mortgage rate, while origination points are fees lenders charge to create, review and process your loan.
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The national median family income for 2025 was $104,200, according to the U.S. Department of Housing and Urban Development (the 2026 estimate has yet to be 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 amounts to about 22% of the typical family’s monthly income.
Meanwhile, home prices have begun to dip in many formerly hot markets. Half of the nation’s 50 largest metro areas exprienced price declines over the past year, Zillow reported in early February. Seperately, the S&P Cotality Case-Shiller index released Feb. 24 showed national home prices grew just 1.3% in 2025. That was the weakest showing since 2011, when prices fell 3.9%.
“With more housing inventory coming online and home prices starting to level off, this remains a promising environment for those looking to buy 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 roiled markets, along with pushing up mortgage rates.
“Despite growing economic data showing a weakening U.S. economy, the ongoing conflict in Iran is keeping mortgage rates north of 6%,” says Jeff DerGurahian, chief investment officer and head economist at loanDepot. “Without the geopolitical tensions, we would likely be seeing a 10‑year Treasury well south of 4%, with mortgage rates in the high 5s.”
