Mortgage and refinance interest rates today, March 17, 2026: Moving up to 3-month highs

Core Insights - Mortgage rates have returned to mid-December levels, with the average 30-year fixed rate at 6.12% and the 15-year rate at 5.65% [1] Mortgage Rates Overview - Current national average mortgage rates include: - 30-year fixed: 6.12% - 15-year fixed: 5.65% - 5/1 ARM: 6.34% - 7/1 ARM: 6.31% [6] - Refinance rates are generally higher than purchase rates, with the 30-year refinance rate at 6.22% [13] Mortgage Payment Calculations - For a $400,000 mortgage at 6.12% over 30 years, the monthly payment is approximately $2,429, resulting in $474,494 in interest paid over the term [8] - A $400,000 15-year mortgage at 5.65% would have a monthly payment of about $3,300, with total interest of $194,047 [8] Fixed vs. Adjustable-Rate Mortgages - Fixed-rate mortgages lock in the interest rate from the start, while adjustable-rate mortgages (ARMs) have a fixed rate for an initial period before adjusting [10][11] - ARMs may start with lower rates but carry the risk of increasing rates after the initial period [12] Future Rate Predictions - The Mortgage Bankers Association (MBA) forecasts the 30-year mortgage rate to remain around 6.10% through the end of 2026, with Fannie Mae predicting similar rates near 6% [14] - For 2027, rates are expected to remain stable, with forecasts of 6.20% to 6.30% from the MBA and around 6.0% from Fannie Mae [15]