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Freddie Mac’s latest mortgage survey shows the average 30-year fixed rate edged up for the week ending March 12, 2026, while home sales and purchase applications point to improving spring market activity.
The average rate for a 30-year fixed-rate mortgage climbed to 6.11 percent as of March 12, 2026, up from 6.00 percent the previous week, according to the company’s latest Primary Mortgage Market Survey (PMMS). The slight increase comes as housing activity begins to strengthen heading into the spring homebuying season, say experts.
“The 30-year fixed-rate mortgage returned to last month’s level of 6.11 percent,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite the modest uptick, buyers are responding to rates in this range, with existing-home sales increasing 1.7 percent in February. Purchase applications also increased this week, a welcome sign as buyers enter spring homebuying season with rates down more than half a percentage point compared to the same time last year.”
Freddie Mac noted that the average 30-year fixed-rate mortgage remains below year-ago levels. At this time in 2025, the 30-year mortgage averaged 6.65 percent.
The average rate for a 15-year fixed-rate mortgage also moved higher, reaching 5.50 percent, up from 5.43 percent a week earlier. A year ago, the 15-year fixed mortgage averaged 5.80 percent.
The latest figures suggest that while borrowing costs remain elevated compared with historically low-rate periods, buyers are continuing to re-enter the market as rate stability improves and seasonal demand builds.
Freddie Mac’s PMMS tracks conventional, conforming, fully amortizing home purchase loans for borrowers with 20 percent down payments and excellent credit.
