The average 30-year fixed rate mortgage is 6.52% today, a decrease of 0.1% since yesterday. The 15-year fixed mortgage rate stands at 5.63%, down by 0.11%. The 30-year FHA mortgage now averages 5.84%, having dropped by 0.11. Meanwhile, the 30-year jumbo mortgage rate is 6.91%, reflecting an increase of 0.02%.
The bigger picture
On Feb. 27, the last trading day of that month, the average 30-year, fixed-rate mortgage stood at 5.97%, according to ICanBuy's data. The first attacks on Iran happened the following day. By last Friday, that same average rate was 6.62%.
Since Feb. 28, the war has driven almost all movements in mortgage rates, with economic reports playing relatively minor roles. Some days, those rates fell, but typically only when there were grounds for optimism that the conflict would be brief or that both sides might de-escalate.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.52% | 6.55% | -0.1% | +0.56% |
| 15-Year Fixed | 5.63% | 5.68% | -0.11% | +0.42% |
| 30-Year Fixed FHA | 5.84% | 7.04% | -0.11% | +0.36% |
| 30-Year Fixed VA | 6.02% | 6.16% | -0.1% | +0.45% |
| 30-Year Fixed USDA | 5.94% | 6.09% | -0.09% | +0.46% |
| 30-Year Fixed Jumbo | 6.91% | 6.93% | +0.02% | +0.38% |
| 5/6 Year ARM | 6.12% | 6.17% | +0.02% | +0.29% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.58% | 6.61% | -0.11% | +0.51% |
| 15-Year Fixed | 5.6% | 5.64% | -0.1% | +0.41% |
| 30-Year Fixed FHA | 5.82% | 7.03% | -0.09% | +0.37% |
| 30-Year Fixed VA | 6% | 6.14% | -0.11% | +0.42% |
| 5/6 Year ARM | 6.13% | 6.16% | -0.06% | +0.31% |
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.
Mortgage rates today
There are no economic reports on today's MarketWatch economic calendar. However, we are due a speech by Federal Reserve Chair Jerome Powell at 10:30 a.m. Eastern.
Powell's speeches are often more influential than most — occasionally, all — economic reports. However, almost all economic reports have become much less consequential since the conflict in the Middle East started.
