NEW YORK, March 13, 2026, 14:43 EDT
Mortgage rates in the U.S. took another leg up on Friday—Mortgage News Daily’s 30-year fixed-rate index hit 6.41%, up from 6.09% just on Tuesday. That’s the highest reading since Sept. 4, 2025, and, according to the publication, it’s also the steepest three-day rise since early April 2025.
This spike comes right as the spring homebuying season was just waking up. Freddie Mac’s weekly average had dipped to 5.98% by Feb. 26—the first time below 6% in three and a half years—and February existing-home sales edged up 1.7%, reaching a 4.09 million-unit annual pace. Still, supply stayed tight at 1.29 million homes. Mortgage rates typically shadow the 10-year Treasury yield, the U.S. benchmark for borrowing that directly influences home-loan costs.
Freddie Mac reported Thursday that the average 30-year fixed mortgage climbed to 6.11% in the week ending March 12, ticking up from 6.00% the previous week. The 15-year rate moved higher as well, reaching 5.50%. “Buyers are responding to rates in this range,” said Sam Khater, Freddie Mac’s chief economist, who noted an uptick in housing activity as spring approaches. Freddie Mac
Mortgage applications climbed 3.2% for the week ended March 6, the Mortgage Bankers Association reported, as purchase demand jumped 7.8%. Average rates for 30-year fixed loans with conforming balances ticked up to 6.19% from 6.09%. “More inventory on the market is supporting more transactions,” said Mike Fratantoni, MBA’s chief economist, noting the week’s volatility. MBA Newslink
Bonds are driving fresh pressure on mortgage rates now. Brent crude climbed past $100 a barrel on Friday, Reuters noted, and the yield on the U.S. 10-year Treasury edged up to 4.281%. Rate cut bets have shrunk—traders now see just a 0.20-point Fed ease this year. Markets remain “laser-focused on oil prices and geopolitics,” said Ellen Zentner at Morgan Stanley Wealth Management. Reuters
Fresh inflation figures kept that narrative alive. U.S. consumer spending climbed 0.4% in January, while the core Personal Consumption Expenditures price index—the Fed’s favored inflation measure, excluding food and energy—also increased 0.4% for the month and was up 3.1% year over year, according to Reuters. Kathy Bostjancic, chief economist at Nationwide, flagged a “steep rise in inflation and weaker economic activity” for the second quarter, citing elevated energy costs. Reuters
Company earnings are starting to reflect the pressure. Lennar, among the biggest U.S. homebuilders, missed Wall Street’s estimates for first-quarter deliveries on Thursday. The firm pointed to “high mortgage rates, constrained affordability, cautious consumer sentiment” and ongoing geopolitical uncertainty. Shares slipped 1.2% in after-hours trading. Lennar has leaned on mortgage rate buydowns—temporary incentives cutting borrowers’ upfront loan costs—to nudge deals across the finish line. Reuters
The picture remains complicated. Barclays on Friday moved its forecast for the Fed’s first rate cut to September instead of June, now projecting just a single quarter-point drop for the year. The bank flagged oil-fueled inflation as a risk that might keep rates elevated, but noted that a significant jump in unemployment could prompt earlier action—reshaping the mortgage outlook once again.
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