WASHINGTON, April 2, 2026, 15:11 EDT
- Freddie Mac reported its 30-year fixed mortgage rate climbed to 6.46% this week, with the 15-year fixed ticking up as well, now at 5.77%.
- Early Thursday, Bankrate’s daily lender survey pegged the average 30-year fixed rate at 6.57%. Mortgage News Daily’s index, taken later in the afternoon, landed lower at 6.41%.
- Purchase applications dropped 2.6% last week, while refinancing activity tumbled 17.3%, according to the Mortgage Bankers Association.
Mortgage rates in the U.S. climbed further on Thursday. Freddie Mac’s weekly read on the 30-year fixed rose to 6.46%—the highest level since early September. Over at Mortgage News Daily, the daily index showed a 30-year fixed averaging 6.41% in the afternoon, based on quotes from top-tier lenders.
That’s become a fresh issue as the spring market gets going and affordability tightens again. Since Feb. 28, rates have climbed nearly half a percentage point. The Mortgage Bankers Association reported a 2.6% dip in purchase applications last week, with refinancing activity sliding 17.3%.
Surveys don’t always line up. Freddie Mac’s weekly reading looks at conventional purchase loans with 20% down, solid credit, and within federal size caps. Meanwhile, Bankrate’s daily check put the 30-year fixed at 6.57%, with a 6.64% APR accounting for both fees and interest, as of 6:30 a.m. Thursday.
Freddie Mac Chief Economist Sam Khater urged buyers to “shop around,” noting that getting several quotes could “save thousands of dollars.” The company’s 15-year fixed mortgage average ticked up to 5.77%, up from 5.75% the prior week. Freddie Mac
Blame the bond market for the latest spike. Mortgage Bankers Association data shows the contract rate on a 30-year fixed home loan climbed 14 basis points to 6.57% for the week ending March 27. Over in Treasuries, the 10-year yield jumped 37 basis points through March, tracking the surge in oil prices and mounting inflation worries.
Neil Dutta at RenMac didn’t mince words, describing the timing as “inopportune.” Danielle Hale, chief economist at Realtor.com, warned that “uncertainty is once again threatening to sideline buyers and sellers.” Reuters
There’s some breathing room here. Mike Fratantoni, chief economist at the MBA, points out that plenty of markets are showing “more homes for sale than buyers have seen in some time,” which is helping to dull the sting of pricier borrowing. Reuters
Yet jitters remain. According to Mortgage News Daily, the average lender dropped 0.02 percentage point from Wednesday, bringing its 30-year fixed-rate index down to 6.41%, compared with 6.45% previously. “Rates can move pretty quickly from here,” said Jeff DerGurahian, loanDepot’s head economist and chief investment officer. Mortgage News Daily
Still, there’s no guarantee of relief. DerGurahian cautioned that rates won’t “improve overnight” even if things calm down. J.P. Morgan, meanwhile, warned Thursday that oil could hit $120 to $130 per barrel soon—and clear $150 if the Strait of Hormuz stays blocked into mid-May. That scenario would keep inflation hot and mortgage costs under pressure. Bankrate
Just last month, the Trump administration’s policy actions and the Fed’s appetite for mortgage-backed securities drove the 30-year rate all the way down to 5.98%. That window didn’t stay open long. The relief is now mostly gone.
