New York, March 27, 2026, 2:58 PM EDT
Mortgage rates in the U.S. continued their climb on Friday—Mortgage News Daily pegged the average 30-year fixed at 6.64%, ticking up 2 basis points from Thursday and marking the highest level in eight months. Just a day before, Freddie Mac had reported its own weekly 30-year fixed average reaching 6.38%, the loftiest since early September. Mortgage News Daily
This jump matters—the impact is already landing on demand, not just market mood. In the week ending March 20, the Mortgage Bankers Association reported the contract rate for a 30-year fixed mortgage climbed 13 basis points to 6.43%. (One basis point equals 0.01 percentage point.) Their applications index slid 10.5%. Affordability pressures and higher rates are “pushing some potential homebuyers to the sidelines,” according to Joel Kan, vice president and deputy chief economist at the group. Reuters
Mortgage rates often track the 10-year U.S. Treasury yield—which hovered near 4.44% on Friday. Reuters put Brent crude at $110.55 a barrel, with U.S. crude settling at $97.84. That combination has sustained inflation worries and kept bond markets on edge. Reuters
Weekly and daily mortgage indicators aren’t identical. Freddie Mac’s survey tracks rates on conventional home-purchase loans—think 20% down, top-tier credit—capturing averages from Thursday to Wednesday. Mortgage News Daily, on the other hand, follows lender pricing in real time, updating every day. Freddie Mac
Freddie Mac’s chief economist, Sam Khater, pointed to “gradual improvements” in the housing market compared with last year. Purchase and refi applications are both tracking higher year-on-year, and the average 30-year rate remains under 6.65%—last year’s level. Still, Mortgage News Daily’s Matthew Graham flagged the risk of “more volatility for interest rates” unless there’s “meaningful and lasting de-escalation.” Freddie Mac
By Friday afternoon, mortgage stocks were under pressure. Rocket Companies dropped 29 cents to $13.66. UWM Holdings gave up 1.5 cents, landing at $3.515, while loanDepot slipped 5 cents to $1.34.
It’s a tough scene out there. U.S. consumer sentiment just slipped to its lowest since December, with inflation expectations for the next year ticking up to 3.8%. That’s the latest from the University of Michigan survey, cited by Reuters—a red flag for a market that hinges on buyers’ comfort with sizable monthly payments. Reuters
Still, markets can’t shake the grip of breaking news. Reuters noted that traders are getting tossed around by the latest Middle East developments, with sentiment shifting on every update. That pattern is likely to continue. Mortgage rates might soften if oil and Treasuries pull back, but if the conflict continues, higher rates could be on the way. Reuters
