Key Takeaways
- After falling last last month to their lowest level of the year, mortgage rates have been trending higher.
- Rates on new 30-year fixed-rate loans averaged 6.84% on Friday—a jump of 24 basis points over the week but still a quarter percentage point below 2025’s peak of 7.09%.
- 15-year rates climbed 20 basis points higher to a new Friday average of 5.93% vs. 6.26% around Christmas.
- Jumbo 30-year rates tacked on 18 basis points this week, averaging 6.85%. That’s down from a 2025 high of 6.95%.
- On a new loan of $350,000 with a 30-year term, today’s average rate translates into a monthly payment $56 higher than the previous week. See our tables below for other loan types and amounts.
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Mortgage Rates Have Jumped Higher
Though new purchase mortgage rates saw welcome declines in late November and early December, they surged higher around Christmas—and then higher still in January. But the last two months have brought some welcome news for house hunters—with the flagship 30-year average not just dipping below the 7% mark but holding firmly in 6% territory.
Unfortunately, the last two weeks have seen rates rise again, with notable jumps this past week. Still, rates remain significantly below the 2025 peaks registered on Jan. 10.
Below, you can see the 1-week changes for each new purchase loan average, followed by a deeper dive into 30-year, 15-year, and jumbo 30-year fixed-rate loans.
| Mortgage Type | Mar. 7 averages | Mar. 14 averages | 1-week change |
|---|---|---|---|
| 30-Year Fixed | 6.60% | 6.84% | + 0.24 |
| FHA 30-Year Fixed | 6.93% | 7.15% | + 0.22 |
| VA 30-Year Fixed | 6.12% | 6.45% | + 0.33 |
| 20-Year Fixed | 6.31% | 6.57% | + 0.26 |
| 15-Year Fixed | 5.73% | 5.93% | + 0.20 |
| FHA 15-Year Fixed | 6.46% | 6.73% | + 0.27 |
| 10-Year Fixed | 5.56% | 5.97% | + 0.41 |
| 7/6 ARM | 7.00% | 7.38% | + 0.38 |
| 5/6 ARM | 7.03% | 7.29% | + 0.26 |
| Jumbo 30-Year Fixed | 6.67% | 6.85% | + 0.18 |
| Jumbo 15-Year Fixed | 6.43% | 6.74% | + 0.31 |
| Jumbo 7/6 ARM | 6.87% | 6.78% | – 0.09 |
| Jumbo 5/6 ARM | 6.94% | 6.97% | + 0.03 |
30-Year Mortgage Rates Jump Almost a Quarter Point
Rates on 30-year new purchase loans ended last week a bold 24 basis points higher than the prior Friday, landing at a 6.84% average. On Feb. 28, rates averaged just 6.55%, a low point for 2025. Compared to two months ago, when rates shot up to a 7-month high of 7.09%, today’s 30-year rates are 25 basis points lower.
Despite the late February-early March dip, things were better in September, when the 30-year average plunged to a two-year low of 5.89% (the cheapest Friday average being 6.03%). But rates bolted higher in October and November and then took additional steps higher around Christmas and in January.
15-Year Mortgage Rates Rise Two-Tenths of a Point
Rates on 15-year new purchase loans also edged up, climbing 20 basis points to a 5.93% average. That’s a 29-point improvement vs. the Jan. 10 peak of 6.22%, but substantially above the two-year low of 4.97% registered in September.
Jumbo 30-Year Rates Not Far Below 2025 High
Rates on jumbo 30-year new purchase loans increased by 18 basis points last week, rising to a Friday average of 6.85%. That’s just 10 basis points below the 2025 high of 6.95%. Back in September, in contrast, rates on new 30-year jumbo loans fell as far as 6.24%, with the lowest weekly average registering at 6.39%.
What’s a jumbo loan?
A jumbo mortgage is one that exceeds the maximum loan limits for Fannie Mae and Freddie Mac conforming loans—$806,500 for single-family homes in most parts of the U.S. in 2025, but up to $1,209,750 in certain more expensive areas.
Here’s How Much Monthly Payments Are Now
To see how much this week’s rate increases would impact monthly payments for new borrowers, our tables below lay out the principal-plus-interest payment for various loan amounts with a 30-year, 15-year, or jumbo 30-year fixed-rate new purchase mortgage.
| 30-Year Loan Monthly Mortgage Payments | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Mar. 7 | 6.60% | $1,597 | $2,235 | $2,874 | $3,513 | $4,151 |
| Fri, Mar. 14 | 6.84% | $1,636 | $2,291 | $2,946 | $3,600 | $4,255 |
| 1-week change | + 0.24 | + $39 | + $56 | + $72 | + $87 | + $104 |
| 15-Year Loan Monthly Mortgage Payments | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Mar. 7 | 5.73% | $2,073 | $2,903 | $3,732 | $4,561 | $5,391 |
| Fri, Mar. 14 | 5.93% | $2,100 | $2,940 | $3,780 | $4,620 | $5,461 |
| 1-week change | + 0.20 | + $27 | + $37 | + $48 | + $59 | + $70 |
By definition, jumbo 30-year mortgages are larger loans. So below we’ve run our calculations on loan amounts of $800,000 to $1.2 million.
| Jumbo 30-Year Loan Monthly Mortgage Payments | ||||||
|---|---|---|---|---|---|---|
| National average rate | $800,000 loan | $900,000 loan | $1 million loan | $1.1 million loan | $1.2 million loan | |
| Fri, Mar. 7 | 6.67% | $5,146 | $5,790 | $6,433 | $7,076 | $7,719 |
| Fri, Mar. 14 | 6.85% | $5,242 | $5,897 | $6,553 | $7,208 | $7,863 |
| 1-week change | + 0.18 | + $96 | + $107 | + $120 | + $132 | + $144 |
How We Track Mortgage Rates
The national and state averages cited above are provided as is via the Zillow Mortgage API, assuming a loan-to-value (LTV) ratio of 80% (i.e., a down payment of at least 20%) and an applicant credit score in the 680–739 range. The resulting rates represent what borrowers should expect when receiving quotes from lenders based on their qualifications, which may vary from advertised teaser rates. © Zillow, Inc., 2024. Use is subject to the Zillow Terms of Use.