Mortgage Rates Today - Updated March 2026
The national average for a 30 year fixed mortgage is 6.11% as of March 12, 2026 according to Freddie Mac's Primary Mortgage Market Survey. Rates remain more than half a percentage point below this time last year and the spring buying season is underway with both purchase applications and existing home sales heading higher.
To see Alpine’s current rates, visit our Mortgage Rates page or request a Custom Rate Quote.
Current National Mortgage Rates
Source: Freddie Mac Primary Mortgage Market Survey — As of March 12, 2026
| Loan Type | National Average | Change vs. Last Week | Change vs. 1 Year Ago |
|---|---|---|---|
| 30 Year Fixed | 6.11% | +0.11% | −0.54% |
| 15 Year Fixed | 5.50% | +0.07% | −0.30% |
How Alpine’s Rates Compare
Our current 30 year conventional rate is 5.750%, well below the national average. As an independent wholesale mortgage broker, we shop your loan across multiple lenders rather than offering just one bank’s pricing. That competition works in your favor.
To see Alpine’s current rates, visit our Mortgage Rates page or request a Custom Rate Quote.
What’s Driving Rates Right Now
Mortgage rates have pulled back significantly from their 2023 peak above 7.7%, settling into a range between roughly 6% and 6.2% so far in 2026. Freddie Mac chief economist Sam Khater noted that buyers are responding to rates in this range with existing home sales rising 1.7% in February and purchase applications increasing heading into the spring homebuying season which is a positive sign for the market given that rates are now down more than half a percentage point compared to the same time last year.
The Federal Reserve cut rates three times in late 2025 but has held steady since, signaling a higher bar for further cuts while inflation remains above its 2% target. Most major forecasters including Fannie Mae and the Mortgage Bankers Association expect the 30 year rate to remain near 6% through the end of 2026.
Mortgage rates are primarily driven by 10 year Treasury yields and not the Fed funds rate directly. Bond market volatility including reactions to jobs data, inflation reports and geopolitical events can move rates meaningfully week to week. For a longer term outlook, see our Mortgage Rate Forecast.
Steven Parangi is a licensed attorney and licensed mortgage loan originator (NMLS #76024) with over 20 years of experience in residential home lending. As the founder of Alpine Mortgage, Steven works directly with borrowers to review their mortgage options and assist them throughout the home financing process. Content published on AlpineBanker.com is reviewed regularly by Steven to reflect current lending guidelines and market conditions.
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If you're considering buying a home or refinancing, it's a good idea to consult with a mortgage professional to explore your options. They can help you understand the best loan products available and guide you through the process of securing a low rate.
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