Published March 26, 2026, 12:21 p.m. EDT
The average rate on the benchmark 30-year fixed mortgage rose to 6.38%, according to Freddie Mac Mortgage Rates rose this week as the conflict in Iran continues to weigh on markets, mortgage buyer Freddie Mac said Thursday.
Freddie Mac’s latest survey of the primary mortgage market, released Thursday, showed the benchmark’s average rate. Fixed mortgage over 30 years rose to 6.38% from last week’s reading of 6.22%.
The average rate for a 30-year loan was 6.65% a year ago.
The average rate for a 30-year fixed-rate mortgage jumped to 6.38% this week. (Daniel Acker/Bloomberg via Getty Images)
“The housing market continues to show incremental improvements over last year, amid recent rate volatility,” said Sam Khater, Freddie Mac’s chief economist. “Requests for purchases and refinancing are increasing year over year.”
MIAMI SURPASSES LOS ANGELES AND NEW YORK AS WORLD’S RISKIEST REAL ESTATE MARKET IN BUBBLE RISK
The average rate on a Fixed mortgage over 15 years climbed to 5.75% from last week’s reading of 5.54%.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Conflict in the Middle East is contributing to rising mortgage rates. (Elie Nouvelage/Bloomberg via Getty Images)
Mortgage rates are affected by several factors, including Federal Reserve and geopolitics. Although mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield was hovering around 4.38% Thursday afternoon.