MortgageCast

The most current mortgage rates available are from March 24, 2026, the most recent date with comprehensive data. According to Zillow, the average 30-year fixed mortgage rate is 6.25%, while the 15-year fixed rate stands at 5.75%. These rates have risen noticeably throughout March due to multiple economic developments, including data releases on unemployment and inflation early in the month, as well as the Federal Reserve's extension of its interest rate pause announced the previous week. For those looking to refinance, rates are even higher, with the average 30-year refinance rate at 6.70% and the 15-year refinance rate at 5.76%.

However, different sources report slightly different figures based on their data collection methods. According to Optimal Blue, the 30-year conventional mortgage rate reached 6.356% on March 24, representing an 11 basis point increase from the previous day. The 15-year conventional mortgage rate was 5.707%, up about 6 basis points. These rates continue an upward trend throughout the month, with jumbo mortgages averaging 6.597% and FHA loans at 6.164%. On a $300,000 loan over 30 years at the 6.356% rate, borrowers would pay approximately $372,440 in interest over the life of the loan.

The mortgage market remains challenging for both buyers and refinancers. A rate slightly above 6.00% for a 30-year conventional mortgage is considered solid in the current environment, while anything below 6.00% is exceptional. These elevated rates contrast sharply with pandemic-era lows in the 2-3% range, leaving many homeowners locked into older mortgages. Prospective borrowers are encouraged to shop around, as individual rates can vary significantly from these averages depending on creditworthiness and loan specifics.