Surprise jobs report may push rates lower: Mortgage and refinance interest rates today, March 6, 2026

Economic Impact on Mortgage Rates - The recent jobs report indicated a loss of 92,000 jobs and an increase in the unemployment rate, which may lead to a reversal of the upward pressure on mortgage rates [1] - The 10-year Treasury yield, which had been rising for a week, saw a reversal due to the disappointing employment news [1] Current Mortgage Rates - As of the latest data, the average 30-year fixed mortgage rate is reported at 6.00%, an increase of two basis points [1][15] - Zillow's lender marketplace is still showing rates just below 6% [1] Mortgage Rate Trends - Mortgage rates have generally decreased since the end of May, reaching three-year lows, although significant declines are not expected through the end of 2026 [14] - The Mortgage Bankers Association (MBA) forecasts the 30-year mortgage rate to be around 6.10% through 2026, while Fannie Mae predicts it will remain near 6% for the year [17] Mortgage Rate Types - Fixed-rate mortgages lock in the interest rate for the entire loan term, while adjustable-rate mortgages (ARMs) have rates that can change after a predetermined period [8][9] - The current average rates for various mortgage types include: - 30-year fixed: 6.02% - 20-year fixed: 5.94% - 15-year fixed: 5.56% - 5/1 ARM: 6.00% - 7/1 ARM: 6.12% [6]