The mortgage interest rate climate has changed considerably in March. Here's where average rates sit as of March 30.
Mortgage interest rates changed significantly this month, increasing by approximately half a percentage point, on average, from where they sat in February. And that increase was more remarkable considering that the Federal Reserve didn't even raise rates when it met mid-month, electing instead to extend a pause in its interest rate-cut campaign, just as it had done in February.
But with geopolitical tensions rising in the month and overseas conflicts pronounced, not to mention a rise in the unemployment rate and a stagnant inflation reading, mortgage interest rates responded poorly.That all noted, mortgage interest rates are still lower than they had been at a similar point in 2025. And they're considerably lower than the 7%-plus many borrowers had been accustomed to seeing listed online in recent years. Plus, there could be some movement this April that helps push rates back down again, perhaps low enough to support a purchase or refinance. To better understand your current options, it helps to know precisely where mortgage interest rates stand right now, as of March 30, 2026. That's what we'll detail below.See how low your current mortgage rate offers are here today.What are today's mortgage rates?The average mortgage interest rate on a 30-year mortgage is 6.37% as of March 30, 2026, according to Zillow. The average rate on a 15-year mortgage is now 5.75%. Both are around where they've sat in the second half of March, which may not be advantageous for borrowers, but it at least shows that increases here have slowed. That said, mortgage rates change daily, and there are a variety of factors that could cause another drive upward. In other words, if these rates work for your budget or come close to working right now, they may be worth locking in. You can always float down your rate before closing or refinance your loan in the future, should rates decline materially at either of those stages.Learn more about your mortgage rate lock options now.What are today's mortgage refinance rates?The average mortgage refinance rate on a 30-year mortgage is 6.92% as of March 30, 2026, according to Zillow. The average refi rate on a 15-year mortgage is now 6.08%. The latter type is up significantly from where it sat last month, for example, when borrowers looking for the shorter loan term were being offered an average of just 5.74%.Still, if these rates represent an option that's somewhere between half a percentage point and a full percentage point lower than your current one, they can be worth pursuing. And with these just being averages, and the potential to secure a lower one simply by shopping around, you may be able to do just that by researching lenders besides just the one that currently holds your mortgage loan.The bottom lineThe average mortgage interest rate on a 30-year mortgage is 6.37%, and its 5.75% for a 15-year option, as of March 30, 2026. The median refinance rate for a 30-year loan, meanwhile, is now 6.92%, and it's 6.08% for a 15-year alternative. Consider these rate options carefully, then, and take a closer look at the market drivers behind mortgage rates. While these may not be ideal, particularly compared to what was available just one month ago, they could be worth locking in, especially if you interpret current market conditions as liable to drive rates here up once again.
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