MortgageCast

As of the most recent data available up to March 29, 2026, average 30-year fixed mortgage rates in the U.S. range from 6.40% to 6.49% for purchase loans, with refinance rates higher at around 6.93%. For instance, on March 26, Optimal Blue reported 6.402% for 30-year conventional conforming loans, up 24 basis points from a week prior, while Bankrate noted 6.49% on March 26, an 18 basis point weekly increase. These rates reflect ongoing upward pressure from inflation, geopolitical tensions like the war in Iran, and the Federal Reserve's steady benchmark rate, limiting expectations for near-term cuts.

15-year fixed rates averaged 5.78% to 5.82% in late March, also rising; Optimal Blue cited 5.776% on March 26 (up 37 basis points weekly), and Bankrate reported 5.82%. Jumbo 30-year loans hovered around 6.51% to 6.59%, with Optimal Blue at 6.513% on March 26 (down slightly daily but up weekly), exceeding conforming limits of $832,750 in most areas. Government-backed options like FHA (6.149%), VA (6.055%), and USDA (5.947%) remained competitive but trended higher. Refinance rates for 30-year fixed hit 6.93% on March 29 per Zillow, up 21 basis points weekly, signaling challenges for homeowners.

On a $300,000 30-year loan at rates like 6.402%, borrowers could pay about $375,688 in total interest over the loan life, per federal calculator estimates, versus $149,174 for a 15-year at 5.776%. Rates have climbed through March due to oil price surges and economic uncertainty, with forecasts suggesting 30-year refinances may stabilize at 6.10%-6.30% later in 2026 per the Mortgage Bankers Association. Shop multiple lenders, as individual rates vary by credit, location, and points paid; daily fluctuations mean checking aggregators like Optimal Blue or Zillow for real-time quotes. (298 words)