Mortgage Rates Stay Low Through Weekend | Today, March 2, 2026

Today’s mortgage rates

Mortgage rates held steady this morning, maintaining their position at three-year lows after last week’s modest decline.

Today’s economic landscape presents competing pressures, with geopolitical tensions driving safe-haven demand for bonds while energy market volatility introduces uncertainty that could eventually weigh on borrowing costs.

With rates at their most attractive levels since September 2022, more borrowers find themselves ‘in the money’ for refinancing. See if it makes sense to refinance or tap into your home equity. For hopeful home buyers, check out what advice experts have for 2026 and if you qualify for financial assistance programs or more lenient loan types.

Current mortgage and refinance rates

>Related: 7 Tips to get the best refinance rate

30-year fixed rate mortgage

At the time this was published, the average 30-year fixed mortgage rate reached %.

The average 30-year fixed rate mortgage (FRM) hit a record weekly low of 2.65% on Jan. 7, 2021, and a record weekly high of 8.89% on Dec. 16, 1994, according to Freddie Mac.

A 30-year FRM gives borrowers an affordable option but you pay more interest over the life of the loan compared to shorter mortgages.

15-year fixed rate mortgage

Today, the average 15-year fixed mortgage rate went to %.

The average 15-year FRM hit a record weekly low of 2.1% on July 29, 2021, and a record weekly high of 18.63% on Sep. 10, 1981, according to Freddie Mac.

The 15-year FRM offers borrowers a briefer term with less accrued interest, but the monthly payments will be much higher.

5/1 adjustable-rate mortgage

This morning’s 5/1 adjustable rate mortgage averaged %.

Adjustable-rate mortgages (ARMs) typically have lower initial interest rates compared to fixed loans. Once that initial period ends, the interest rate adjusts to the current market conditions. In this case, the initial period is five years and the adjustments are up to once every year. Homeowners with shorter term lending plans tend to see these as advantageous.

What experts are expecting

Charles Goodwin, head of bridge and DSCR lending at Kiavi

“I expect to see mortgage rates remain relatively stable in February, with room to drift modestly lower even in the absence of a Fed meeting.”

Market data affecting today’s mortgage rates

Here’s a snapshot of the state of play as this article was published. The data mostly compares to roughly the same time the business day before, so much of the movement will often have happened in the previous session. These movements are based on the previous day’s settlement prices.

• The yield on 10-year Treasury notes rose to 4.000% from 3.952%. (Bad for mortgage rates.) Mortgage rates typically follow these Treasury bond yields. While the yield has risen slightly, it remains within its recent range and well below the 52-week high of 4.632%, indicating relatively favorable conditions.
• Major stock indexes fell this morning. (Good for mortgage rates.) The Dow Jones dropped 0.98%, the S&P 500 declined 0.81%, and the NASDAQ fell 0.82%. When investors sell shares, they often buy bonds, pushing prices up and yields—and mortgage rates—down. The reverse may occur when indexes rise, though this relationship is imperfect.
• Oil prices surged to $72.23 from $67.02 a barrel. (Bad for mortgage rates.) Energy prices significantly influence inflation and economic activity. The sharp 7.77% jump reflects Middle East geopolitical tensions.
• Gold prices rose to $5,414.40 from $5,247.90 an ounce. (Good for mortgage rates.) Gold tends to rise when investors worry about the economy, which can benefit mortgage rates.
• CNN Business Fear & Greed Index fell to 38 from 42. (Good for mortgage rates.) “Fearful” investors often buy bonds, pushing prices up and rates down, while “greedy” ones do the opposite. Lower readings are generally better.

*A movement of less than $20 on gold prices or 40 cents on oil prices is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.

Caveats about markets and rates

Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. But that’s no longer the case. We still make daily calls. And are usually right. But our record for accuracy won’t achieve its former high levels until things settle down.

So, use markets only as a rough guide. Because they have to be exceptionally strong or weak for us to rely on them. But, with that caveat, mortgage rates today might nudge upward or barely budge. However, be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.

What’s driving mortgage rates today?

This week

Mortgage rates are expected to hold steady in the low-to-mid 6% range this week, with several key factors poised to influence their direction. February’s inflation and employment data will take center stage, as investors look for signals about the Federal Reserve’s next move. Strong job growth and contained inflation would likely keep rates anchored near current levels, while softer readings could provide modest downward pressure.

Tariff policy developments continue to inject uncertainty into markets. Following a Supreme Court ruling that reversed certain tariffs, the administration’s universal tariff response triggered a brief dip in rates into the high 5% range as investors reassessed economic risks.

The Federal Reserve’s stance remains critical. With the central bank holding its benchmark rate at 3.50%-3.75% and signaling no immediate cuts without further inflation progress, next week’s economic releases will help shape expectations ahead of the March 17-18 FOMC meeting.

Government intervention in mortgage-backed securities markets—including a directive for Fannie Mae and Freddie Mac to purchase $200 billion in MBS—has provided some support for lower rates, though the impact has been limited. Meanwhile, rising mortgage applications and refinance activity suggest improving affordability is drawing buyers back, potentially limiting how much further rates can fall.

Recent trends

Freddie Mac’s February 26 report put the weekly 30-year fixed mortgage rate average at 5.98%, dropping three basis points (0.03%) from the previous week and reaching the lowest level since September 2022. Rates remain near three-year lows, with purchase and refinance applications rising year-over-year. Freddie’s data serves as a market barometer and trend tracker, but individual rates vary by lender and depend on personal financial profiles.

Expert forecasts for mortgage rates

Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.

Here are their quarterly rate forecasts for 2026.

The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie updated its forecast on February 12 and the MBA updated theirs on February 17.

Of course, given so many unknowables, these forecasts might be even more speculative than usual. And their past record for accuracy — due to the volatile nature of interest rates — hasn’t been wildly impressive.

Mortgage rate methodology

The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.

Current mortgage rates methodology

We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.

Today’s mortgage rates FAQ