Image courtesy: PM Images/Getty Images;Illustration: Hunter Newton/Bankrate
current mortgage interest rate
| Loan type | the current | 4 weeks ago | 1 year ago | 52 week average | 52 week low |
|---|---|---|---|---|---|
| 30 years | 6.19% | 6.16% | 6.77% | 6.51% | 6.09% |
| 15 years | 5.50% | 5.50% | 5.99% | 5.74% | 5.45% |
| 30 year jumbo | 6.28% | 6.33% | 6.87% | 6.59% | 6.22% |
The average total of discount points and origination points for 30-year fixed mortgages in this week’s study was 0.35 points. Discount points are a way to lower your mortgage interest rate, and starting points are fees charged by lenders to originate, qualify, and process your loan.
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Monthly mortgage payment at current interest rate
According to the U.S. Department of Housing and Urban Development, the national median household income in 2025 was $104,200 (2026 estimates have not yet been released), and the median price of existing homes sold in February 2026 was $398,000, according to the National Association of Realtors. Based on a 20% down payment and a 6.19% mortgage rate, a monthly principal and interest payment of $1,948 is approximately 22% of a typical family’s monthly income.
Meanwhile, home prices are starting to decline in many once-strong markets. Zillow reported in early February that half of the nation’s 50 largest metropolitan areas experienced price declines in the past year. Separately, the S&P Kotality Case-Shiller Index released on February 24 showed that national home price growth in 2025 will be just 1.3%. This was the weakest result since 2011, when prices fell 3.9%.
“With more home inventory available online and home prices starting to level off, it remains a promising environment for those looking to buy or refinance,” said Sameer Dedia, CEO of One Real Mortgage.
What will happen to mortgage rates for the rest of 2026?
The Fed is expected to keep its benchmark interest rate unchanged at its March meeting. The big variable at the moment is the Iran war. President Donald Trump’s military action in Iran has raised oil prices, roiled markets and pushed up mortgage rates.
“Despite a growing number of economic indicators pointing to a weakening U.S. economy, mortgage rates are rising above 6% as the Iran conflict continues,” said Jeff Dergrahian, chief investment officer and chief economist at LoanDepot. “If there were no geopolitical tensions, 10-year Treasury yields would probably be well below 4% and mortgage rates would be in the low 5% range.”
The consensus now is that mortgage rates will decline slightly. Fannie Mae’s latest 2026 housing forecast predicts interest rates will remain at 6% for most of 2026 and 2027.