Mortgage and refinance rates today, March 30, 2026: 30-year fixed now just under 6.5%

Core Insights - Mortgage rates for 30-year fixed loans have increased by more than half a point, currently averaging 6.47%, while the 15-year fixed rate stands at 5.90% [1][18] Current Mortgage Rates - The national average for various mortgage types includes: - 30-year fixed: 6.47% - 20-year fixed: 6.50% - 15-year fixed: 5.90% - 5/1 ARM: 6.71% - 7/1 ARM: 6.56% - 30-year VA: 5.99% - 15-year VA: 5.55% - 5/1 VA: 5.53% [5] Mortgage Payment Calculations - For a $300,000 mortgage at a 30-year term with a 6.31% rate, the monthly payment would be approximately $1,890, resulting in $380,504 in interest over the loan's life [8] - For the same mortgage amount at a 15-year term with a 5.90% rate, the monthly payment would increase to $2,515, with total interest paid being $152,770 [10] Adjustable Mortgage Rates - Adjustable-rate mortgages (ARMs) typically start with lower rates than fixed rates but can increase after the initial period. For instance, a 5/1 ARM maintains the same rate for the first five years before adjusting annually [11][12] - Recent trends show that ARM rates can sometimes be similar to or higher than fixed rates, necessitating careful comparison among lenders [13] Strategies for Lower Mortgage Rates - Lenders generally offer lower rates to borrowers with higher down payments, excellent credit scores, and low debt-to-income ratios. Strategies to achieve lower rates include saving more, improving credit scores, and reducing debt [14] - Options for buying down interest rates include paying for discount points at closing or utilizing temporary buydowns, which can lower initial rates for a set period [15][16] Future Rate Predictions - The Mortgage Bankers Association forecasts that the 30-year mortgage rate will hover around 6.10% through 2026, while Fannie Mae predicts rates near 6% by the end of the year [20]