Mortgage Rates Hit 6.44% in March 2026 Amid Rising Inflation

AI Summary

As of March 25, the average 30-year mortgage rate reached 6.44%, the highest since mid-2025, driven by rising oil prices and geopolitical tensions in Iran. Economists expect rates to remain above 6% for the rest of 2026, complicating the spring homebuying season. The Mortgage Bankers Association projects rates will not fall significantly, while Fannie Mae anticipates a decrease to 5.7% by year-end. The median national home price was recorded at $398,000 in February, indicating ongoing volatility in housing markets during this period.