Mortgage lenders with the best rates this week, March 16, 2026: 5.889% APR wins lowest rate

Core Insights - Rising mortgage rates have led to a significant decrease in the availability of sub-6% APR loans, with only two lenders offering such rates this week [1][3] - The current economic climate, particularly the impact of the Middle East war on oil prices, has contributed to increasing bond market yields and consequently higher mortgage rates [3] Mortgage Rate Trends - Among 16 national lenders surveyed, only two advertised rates in the 5% range, indicating a scarcity of affordable mortgage options [3] - The top lender, Navy Federal, had an APR that was 1.029 percentage points lower than the bottom-ranked lender, Rocket Mortgage [5] Lender Strategies - Lenders are increasingly incorporating discount points to lower their advertised rates, which can complicate the comparison process for borrowers [4][9] - Special rate offers and fee discounts are becoming more common as lenders compete in a tight housing market, with examples such as Chase Home Loans conducting a mortgage rate sale [11] Borrower Guidance - Borrowers are advised to focus on the APR rather than just the interest rate, as APR provides a more comprehensive view of borrowing costs by including lender fees [7] - It is recommended that borrowers request quotes from multiple lenders for rates with zero discount points to facilitate accurate comparisons [13]