Mortgage and refinance interest rates today, March 7, 2026: Rates rise as bond yields surge.

Mortgage Rates Overview - Mortgage rates have increased due to developments in the Middle East, leading to higher oil prices and inflation fears, with the current 30-year fixed rate at 5.98%, up 17 basis points from last weekend [1] - The 15-year fixed rate has also risen by 18 basis points to 5.50% [1] Current Mortgage Rates - Current national average mortgage rates include: - 30-year fixed: 5.98% - 20-year fixed: 5.90% - 15-year fixed: 5.50% - 5/1 ARM: 5.96% - 7/1 ARM: 5.70% - 30-year VA: 5.52% - 15-year VA: 5.24% - 5/1 VA: 5.30% [5] Mortgage Refinance Rates - Today's national average mortgage refinance rates are typically higher than purchase rates, with specific rates not detailed in the provided content [3] Market Trends - The mortgage market has seen fluctuations, with rates dropping gradually since the end of May last year, peaking over 7% in January 2025 before declining [20] - Forecasts suggest that the 30-year mortgage rate will remain near 6.10% through 2026, with predictions from Fannie Mae indicating a rate near 6% by the end of the year [19] Buying Considerations - Current housing market conditions are more favorable compared to the height of the COVID-19 pandemic, with home prices stabilizing [16] - The best time to buy a house is when it aligns with individual circumstances rather than attempting to time the market [17]