The average 30-year fixed mortgage rate increased for the fifth consecutive week, rising to 6.46% as the ongoing war in Iran continues to roil financial markets, economists said. The average mortgage rate ticked up 8 basis points to 6.46% this week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday,…
While conflict continues to brew in the Middle East, mortgage rates continue to rise due to the war’s effect on oil prices, according to the latest Freddie Mac data. Freddie Mac’s latest Primary Mortgage Market Survey found that the 30-year fixed-rate mortgage (FRM) averaged 6.38% as of March 26, 2026, up from last week when…
While many across the industry were predicting interest rate cuts and a transition to a more balanced economy in 2026, the year so far has been shaping up a bit differently. Inflation remains elevated, mortgage rates are facing difficulty due to rising geopolitical tensions in the Middle East, and the Federal Reserve has yet to…
While mortgage rates hit a high for the year so far, reflecting escalating geopolitical tensions in the Middle East, analysts point to average rates still remaining below year-ago levels and offering some improvement to buyers purchasing power. The average mortgage rate ticked up 11 basis points to 6.22% this week, up from 6.11% last week,…
Despite some reports showing lower trends in inflation, the Federal Reserve’s preferred inflation measure continues to remain elevated ahead of possible complications from geopolitical tension, according to the latest data from the Bureau of Economic Analysis. The Personal Consumption Expenditures (PCE) price index grew 0.3% in January, with annual inflation at 2.8%. This is a…
The average mortgage rate remaining at or around the low 6% range continues to spur buyer activity, but economists warn it may not be enough to create a much-needed market shift in the face of ongoing economic uncertainty and wartime market volatility. The average mortgage rate ticked up 11 basis points to 6.11% this week,…
When the Federal Reserve began aggressively raising interest rates in 2022, many analysts expected home prices to fall. But they didn’t. Instead, they soared. A new analysis from the Joint Center for Housing Studies (JCHS) at Harvard University helps explain why—and the answer is summed up in mortgage rate locks. From the start of 2021…
Inflation appeared to once again be on the right track for the Federal Reserve’s 2% goal, according to the latest data from the Bureau of Labor Statistics (BLS). However, economists are feeling uncertain about whether the trend will continue as the economy faces potential fallout from geopolitical issues—most notably, the war in Iran. The BLS’s…
After a brief dip into the fives, mortgage rates ticked back up this week and will likely continue to rise if the conflict with Iran escalates into a prolonged war, economists cautioned this week. “The launch of the conflict in Iran over the weekend and its subsequent escalation has stoked fears of wartime inflation that…
Just in time for the spring buying season, average mortgage rates crossed “into the fives,” this past week, their lowest level in years, and one economists describe as a “psychological barrier and numeric threshold” that could bring more buyers into the market despite concerns over the economy. The latest Primary Mortgage Market Survey® (PMMS®), released…
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