Mortgage and refinance interest rates today, March 4, 2026: Rising but still below 6%

Core Insights - Mortgage rates are increasing, with the 30-year fixed rate rising to 5.92% and the 15-year fixed rate to 5.50% due to selling pressure in the bond market [1] - The ongoing conflict in the Middle East has contributed to market volatility, impacting Treasury yields [1] Current Mortgage Rates - The national average for the 30-year fixed mortgage rate is currently 5.92% [16] - Other current rates include 20-year fixed at 6.05%, 15-year fixed at 5.50%, 5/1 ARM at 5.91%, and 7/1 ARM at 5.58% [5] Mortgage Refinance Rates - Today's mortgage refinance rates are generally higher than purchase rates, with the national averages rounded to the nearest hundredth [3] Adjustable Mortgage Rates - Adjustable-rate mortgages (ARMs) offer lower initial rates compared to fixed rates, but they come with the risk of future rate increases [14] - The 5/1 ARM locks in a rate for the first five years before adjusting annually [13] Advantages and Disadvantages of Mortgage Types - A 30-year fixed mortgage offers lower and predictable monthly payments but incurs higher interest over the loan's life [8][10] - A 15-year fixed mortgage has higher monthly payments but lower interest rates, allowing borrowers to pay off their mortgage sooner and save on interest [11][12]