FX.co ★ US 30-Year Mortgage Rate Rises Further

The average rate on a 30-year fixed mortgage climbed to 6.22% as of March 19, after hovering near its lowest levels of the year in recent weeks, according to data from Freddie Mac. The increase followed a rise in Treasury yields as investors reacted to heightened inflation concerns, driven by the ongoing war in Iran and the Federal Reserve’s decision to pause interest rate cuts. “The 30-year fixed-rate mortgage edged up this week to 6.22% but remains nearly half a percentage point lower than at the same time last year. Potential homebuyers are positioned for a more affordable spring homebuying season than last year, with the market seeing improvements in purchase applications and pending home sales,” said Sam Khater, Freddie Mac’s chief economist.