The average 30-year fixed rate mortgage is 6.32% today, an increase of 0.08% since yesterday. The 15-year fixed mortgage rate stands at 5.53%, up by 0.12%. The 30-year FHA mortgage now averages 5.67%, having risen by 0.08. Meanwhile, the 30-year jumbo mortgage rate is 6.78%, reflecting an increase of 0.05%.
The bigger picture
Mortgage rates bounced back up yesterday. Apart from three days (Mar. 6 and 9, and Feb. 4), they're at their highest level this year, although they're still low compared to the spring and summer of 2025.
The fog of war engulfs markets, as well as politicians and the military. And, right now, investors are groping in the dark when trying to anticipate the economic consequences of the conflict, especially inflationary ones.
This uncertainty is bound to create volatility as Wall Street is buffeted by news and rumours. So, don't expect mortgage rates to settle down until the war becomes more predictable — or ends, whichever is sooner.
Scroll on down for information about today's economic reports, including their possible impacts on mortgage rates.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.32% | 6.35% | +0.08% | +0.27% |
| 15-Year Fixed | 5.53% | 5.58% | +0.12% | +0.29% |
| 30-Year Fixed FHA | 5.67% | 6.88% | +0.08% | +0.15% |
| 30-Year Fixed VA | 5.78% | 5.92% | +0.08% | +0.18% |
| 30-Year Fixed USDA | 5.9% | 6.05% | +0.23% | +0.38% |
| 30-Year Fixed Jumbo | 6.78% | 6.8% | +0.05% | +0.27% |
| 5/6 Year ARM | 6.02% | 6.06% | -0.05% | +0.12% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.39% | 6.42% | +0.04% | +0.29% |
| 15-Year Fixed | 5.49% | 5.53% | +0.1% | +0.26% |
| 30-Year Fixed FHA | 5.64% | 6.85% | +0.08% | +0.15% |
| 30-Year Fixed VA | 5.81% | 5.95% | +0.08% | +0.18% |
| 5/6 Year ARM | 6.02% | 6.04% | -0.02% | +0.02% |
What's coming up?
Although economic reports are usually the main drivers of changes to mortgage rates, they're not the only ones. The general mood in markets and economically consequential news can also affect those rates. News items concerning the war, employment, inflation, tariffs, and deficit funding are especially influential at the moment.
Comerica Bank's Preview of the Week Ahead
In an e-newsletter on Monday, Comerica Bank's economics team gave its preview of this week's key economic reports:
"The February CPI report will likely run cool as tame housing costs offset the effects of tariffs. Grocery price inflation was likely tame during the month. The January PCE inflation report likely ran hotter, since medical services make up a larger share of the PCE price basket, and those prices tend to jump at the start of the year. The federal deficit likely widened sharply in February as the 2025 tax cuts reduce income tax receipts.
"These inflation reports cover the period before the war with Iran, so they do not reflect its effects. But the preliminary March release of the University of Michigan’s consumer survey will: Sentiment likely retreated from February as the headlines and rising gas prices pushed inflation expectations higher."
Comerica's predictions often differ from market expectations, which are based on a consensus of forecasts from a wider pool of analysts.
Mortgage rates today
There are four economic reports on today's MarketWatch economic calendar. However, it's rare for any of them to have much impact on mortgage rates, and especially unlikely now, when markets are preoccupied by the war and oil prices
Here are what markets are expecting this morning from those reports:
- Initial jobless claims during the week ending Mar. 7 — Markets expect 215,000 new claims, up from the previous week's 213,000
- January trade deficit — Markets expect the deficit to narrow to -$67 billion from December's -$70.3 billion
- February housing starts — Markets expect these to slow to 1.35 million (annualized) from January's 1.4 million
- February building permits — Markets expect these to slow to 1.41 million (annualized) from January's 1.45 million
Mortgage rates typically rise when important reports deliver better-than-expected economic news, and fall when that news is worse than expected. Outcomes close to expectations tend not to affect mortgage rates.
Tomorrow brings the personal consumption expenditures (PCE) price index, the Federal Reserve's preferred gauge of inflation. In many ways, this is superior to the CPI, but markets tend to pay closer attention to the latter. Still, PCE price indices certainly have the potential to move mortgage rates.
