Mortgage rate forecast for next week (Mar. 30-Apr. 3)
Mortgage rates shot up by double-digit basis points for the third straight week, while growing over the last four.
The average 30-year fixed rate mortgage (FRM) increased to 6.38% on Mar. 26 from 6.22% on Mar. 19, according to Freddie Mac. The last time the average 30-year FRM went above 7% was Jan. 16, 2025.
“Mortgage rates have risen back to the mid-6% range, after briefly falling below the important psychological threshold of 6%. Here lies the conundrum for what it means for home buying and selling – affordability is still improved from a year ago, but about a third of the gains have reversed in recent weeks. Home shoppers can still afford more than they could last year, but because of the hit to sentiment — both with anchoring on the buying power from a few weeks ago, and uncertainty about their financial prospects — some may choose to wait to transact,” said Kara Ng, senior economist at Zillow Home Loans.
| Average 30-year fixed rate | 1-week ago | 4-weeks ago | 3-months ago | 1-year ago |
| 6.38% | 6.22% | 5.98% | 6.18% | 6.65% |
The latest borrowing activity
Though lagging, the most recent weekly mortgage application report from the Mortgage Bankers Association showed a seasonally adjusted 10.5% decrease for the seven days ending March 20. The refinance index fell 15% week-over-week while standing 52% higher from a year ago. The purchase index declined 5% weekly and rose 5% year-over-year.
“The 30-year fixed mortgage rate increasing more than 30 basis points since February has clearly softened borrower demand. Higher borrowing costs, affordability pressures, and economic uncertainty are likely prompting some prospective buyers to delay purchase decisions,” said Bob Broeksmit, CEO at the MBA.
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Will mortgage rates go down in April?
“Anyone claiming certainty about rate direction right now is overconfident. There’s genuine uncertainty in the air, and the data is pulling in multiple directions.”
-Tony Julianelle, CEO at Atlas Real Estate
Mortgage rates fluctuated significantly in 2023, with the average 30-year fixed rate going as low as 6.09% and as high as 7.79%, according to Freddie Mac. That range narrowed from 6.08% to 7.22% in 2024, and further in 2025 between 6.15% and 7.04%. Thus far in 2026, the average 30-year moved between 5.98% and 6.38%.
We may have already seen the peak of this rate cycle. But if inflation rises, mortgage rates could uptrend. Many factors drive interest rates, which makes them subject to volatility and could change direction any given week.
Experts weighed in on whether 30-year mortgage rates will climb, fall, or level off in April.
Expert mortgage rate predictions for April
Ralph DiBugnara, president at Home Qualified
Prediction: Rates will moderate
I expect rates to stay in a relatively similar range as where they ended in March, likely hovering in the low-to-mid 6% range. Current global uncertainty and inflation data will keep volatility in play. Also any rate cuts at all by the Fed may be in jeopardy now so that will keep markets frozen some. Unless we get a clear cooling signal from the Fed, don’t expect a drop. The 30-year fixed should average around 6.25% with the 15 year fixed at 5.875%
Charles Goodwin, head of bridge and DSCR lending at Kiavi
Prediction: Rates will moderate
“Mortgage rates have already reacted to macro volatility, rising as bond markets priced in new inflation risks and geopolitical uncertainty. While the Fed held rates steady at this March’s meeting, mortgage rates in April will have less to do with the Fed’s decisions and more to do with broader economic data and circumstances.
“For example, the labor market shows signs of cooling after a weaker-than-expected Jobs Report. The Producer Price Index (PPI) also indicates that inflationary woes aren’t going away anytime soon, especially given the conflict in Iran, which has yet to be fully reflected in current data. In this environment, I expect mortgage rates to be somewhat volatile in April, moving up and down with international developments and inflation signals. That said, if tensions ease or the Fed provides a clearer roadmap for rate cuts later this year, we could see rates reverse course relatively quickly.”
Hannah Jones, senior economist at Realtor.com
Prediction: Rates will moderate
“Mortgage rates have bumped higher recently as the conflict in the Middle East puts renewed upward pressure on inflation through surging energy costs. While easing core inflation and a softening job market would typically exert downward pressure on rates, geopolitical uncertainty and the potential for inflationary tariff policies are currently acting as a counterweight. Consequently, we expect mortgage rates to remain volatile and likely hover in the low 6% range until there is more clarity on the global stage and the Federal Reserve’s next moves.”
Tony Julianelle, CEO at Atlas Real Estate
Prediction: Rates will moderate
“My expectation is that rates will fluctuate within a fairly narrow band through April, likely ranging between 6% and 6.5% depending on the week. We briefly touched sub-6% territory in late February when tariff uncertainty pushed investors into bonds, but that window closed quickly as geopolitical tensions in the Middle East drove oil prices higher and reignited inflation concerns.
“The Fed held steady in March and will likely do so again at its next meeting. With Powell’s term ending in May and a leadership transition on the horizon, I don’t see the Fed making any bold moves. Most forecasters have converged around 6% to 6.3% as the likely range for 2026, and I think that’s reasonable. The forces that would push rates meaningfully lower, such as a significant economic slowdown or a clear inflation victory, aren’t materializing in a decisive way. But the forces that would push them significantly higher aren’t either.
“The honest answer is that anyone claiming certainty about rate direction right now is overconfident. There’s genuine uncertainty in the air, and the data is pulling in multiple directions.”
Sam Williamson, senior economist at First American
Prediction: Rates will moderate
“Mortgage rates are likely to remain range-bound in the low-6% range in April, with some added volatility and upside risk if recent geopolitical developments persist. Inflation has shown only limited signs of easing, while the labor market has softened, but not enough to materially change the rate outlook. That should keep a floor under mortgage rates in the near term. Until inflation shows clearer signs of cooling or economic conditions weaken more noticeably, rates are more likely to remain choppy around current levels than move meaningfully lower.”
Mortgage interest rates forecast next 90 days
As inflation ran rampant in 2022, the Federal Reserve took action to bring it down and that led to the average 30-year fixed-rate mortgage spiking in 2023.
When inflation gradually cooled in 2024, the Fed made three rate cuts (September, November, and December). Amid the uncertainty and chaos of 2025, the Federal Reserve Open Market Committee held the federal funds rate range steady at its first five meetings, before continued instability and weakened job markets justified three cuts to end the year. The central bank then held rates at its first 2026 meeting, resuming its wait-and-see approach during a time of murky economic outlooks.
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Of course, rates could rise or fall on any given week due to many factors or if another global event causes widespread uncertainty in the economy.
Mortgage rate predictions for 2026
The 30-year fixed-rate mortgage averaged 6.38% as of Mar. 26, according to Freddie Mac. All five of the major housing authorities we looked at predict 2026’s second quarter average to finish below that.
Fannie Mae sits at the low end of the group, projecting the average 30-year fixed interest rate to settle at 5.9%. Meanwhile, the Mortgage Bankers Association had the highest Q2 forecast of 6.3%.
| Housing Authority | 30-Year Mortgage Rate Forecast (Q2 2026) |
| Fannie Mae | 5.90% |
| National Association of Home Builders | 5.99% |
| National Association of Realtors | 6.00% |
| Wells Fargo | 6.15% |
| Mortgage Bankers Association | 6.30% |
| Average Prediction | 6.068% |
Current mortgage interest rate trends
Mortgage rates grew for the fourth week in a row.
The average 30-year fixed rate increased to 6.38% on Mar. 26 from 6.22% on Mar. 19. Meanwhile, the average 15-year fixed mortgage rate rose to 5.75% from 5.54%.
| Month | Average 30-Year Fixed Rate |
| March 2025 | 6.65% |
| April 2025 | 6.73% |
| May 2025 | 6.82% |
| June 2025 | 6.82% |
| July 2025 | 6.72% |
| August 2025 | 6.59% |
| September 2025 | 6.35% |
| October 2025 | 6.25% |
| November 2025 | 6.24% |
| December 2025 | 6.19% |
| January 2026 | 6.10% |
| February 2026 | 6.05% |
| March 2026 | 6.18% |
Source: Freddie Mac
After hitting record-low territory in 2020 and 2021, mortgage rates climbed to a 23-year high in 2023 before descending over 2024 and 2025. Many experts and industry authorities believe they will follow a downward trajectory in 2026. Whatever happens, interest rates are still below historical averages.
Dating back to April 1971, the fixed 30-year interest rate averaged around 7.8%, according to Freddie Mac. So if you haven’t locked a rate yet, don’t lose too much sleep over it. You can still get a good deal, historically speaking — especially if you’re a borrower with strong credit.
Just make sure you shop around to find the best lender and lowest rate for your unique situation.
Mortgage rate trends by loan type
Many mortgage shoppers don’t realize there are different types of rates in today’s mortgage market. But this knowledge can help home buyers and refinancing households find the best value for their situation.
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Which mortgage loan is best?
The best mortgage for you depends on your financial situation and your goals.
For instance, if you want to buy a high-priced home and you have great credit, a jumbo loan is your best bet. Jumbo mortgages allow loan amounts above conforming loan limits, which max out at $ in most parts of the U.S.
On the other hand, if you’re a veteran or service member, a VA loan is almost always the right choice. VA loans are backed by the U.S. Department of Veterans Affairs. They provide ultra-low rates and never charge private mortgage insurance (PMI). But you need an eligible service history to qualify.
Conforming loans and FHA loans (those backed by the Federal Housing Administration) are great low-down-payment options.
Conforming loans allow as little as 3% down with FICO scores starting at 620. FHA loans are even more lenient about credit; home buyers can often qualify with a score of 580 or higher, and a less-than-perfect credit history might not disqualify you.
Finally, consider a USDA loan if you want to buy or refinance real estate in a rural area. USDA loans have below-market rates — similar to VA — and reduced mortgage insurance costs. The catch? You need to live in a ‘rural’ area and have moderate or low income to be USDA-eligible.
Mortgage rate strategies for April 2026
Mortgage rates displayed their famous volatility throughout 2024 before 2025’s gradual downtrend. The Federal Reserve ended 2025 with three-straight rate cuts and projected the potential for more in 2026, providing optimism for modestly descending rates over the course of the year.
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However, the Trump Administration’s power consolidation, alongside unstable inflation caused the Fed to pause in January. Then, the war against Iran and the elevated uncertainty brought another hold in March.
As always, the committee said it would adjust its policies as necessary — which could mean additional cuts, none at all or even possible raises.
Here are just a few strategies to keep in mind if you’re mortgage shopping in the coming months.
Be ready to move quickly
Indecision can lead to failure or missed opportunities. That holds true in home buying as well.
Although the housing market is becoming more balanced than the recent past, it still favors sellers. Prospective borrowers should take the lessons learned from the last few years and apply them now even though conditions are less extreme.
“Taking too long to decide to make an offer can lead to paying more for the home at best and at worst to losing out on it entirely. Buyers should get pre-approved (not pre-qualified) for their mortgage, so that the seller has some certainty about the deal closing. And be ready to close quickly — a long escrow period will put you at a disadvantage.
“And it’s definitely not a bad idea to work with a real estate agent who has access to “coming soon” properties, which can give a buyer a little bit of a head start competing for the limited number of homes available,” said Rick Sharga.
If mortgage rates continue on a downward trajectory, more and more buyers will likely enter the market after being priced out on the sidelines. Being decisive (and prepared) should only play to your advantage.
Shopping around isn’t only for the holidays
Since interest rates can vary drastically from day to day and from lender to lender, failing to shop around likely leads to money lost.
Lenders charge different rates for different levels of credit scores. And while there are ways to negotiate a lower mortgage rate, the easiest is to get multiple quotes from multiple lenders and leverage them against each other.
“For potential home buyers, it’s important to get quotes from multiple lenders for a mortgage, as rates can vary dramatically, especially during such a volatile period,” said Odeta Kushi.
As the mortgage market slows due to lessened demand, lenders will be more eager for business. While missing out on the rock-bottom rates of 2020 and 2021 may sting, there’s always a way to use the market to your advantage.
How to shop for interest rates
Rate shopping doesn’t just mean looking at the lowest rates advertised online because those aren’t available to everyone. Typically, those are offered to borrowers with great credit who can put a down payment of 20% or more.
The rate lenders actually offer depends on:
- Your credit score and credit history
- Your personal finances
- Your down payment (if buying a home)
- Your home equity (if refinancing)
- Your loan-to-value ratio (LTV)
- Your debt-to-income ratio (DTI)
To figure out what rate a lender can offer you based on those factors, you have to fill out a loan application. Lenders will check your credit and verify your income and debts, then give you a ‘real’ rate quote based on your financial situation.
You should get three to five of these quotes at a minimum, then compare them to find the best offer. Look for the lowest rate, but also pay attention to your annual percentage rate (APR), estimated closing costs, and ‘discount points’ — extra fees charged upfront to lower your rate.
This might sound like a lot of work. But you can shop for mortgage rates in under a day if you put your mind to it. And shaving just a few basis points off your rate can save you thousands.
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Mortgage interest rate FAQ
Current mortgage rates are averaging 6.38% for a 30-year fixed-rate loan and 5.75% for a 15-year fixed-rate loan, according to Freddie Mac’s latest weekly rate survey. Your individual rate could be higher or lower than the average depending on your credit score, down payment, and the lender you choose to work with, among other factors.
Mortgage rates could decrease next week (Mar. 30-Apr. 3, 2025) if the mortgage market takes a cautious approach to a possible recession. However, rates could rise if lenders account for the Federal Reserve taking measures to counteract inflation or if a global event brings economic uncertainty.
If inflation continues to dissipate and the economy cools or goes into a recession, it’s likely mortgage rates will decrease in 2026. Although, it’s important to remember that interest rates are notoriously volatile and are driven by many factors, so they can rise during any given week.
Mortgage rates may rise in 2026. High inflation, strong demand in the housing market, and policy changes by the Federal Reserve in 2022 and 2023 all pushed rates higher. However, if the U.S. does indeed enter a recession, mortgage rates could come down.
Freddie Mac is now citing average 30-year rates in the 6% range. If you can find a rate in the 5s or 6s, you’re in a very good position. Remember that rates vary a lot by borrower. Those with perfect credit and large down payments may get below-average interest rates, while poor-credit borrowers and those with non-QM loans could see much higher rates. You’ll need to get pre-approved for a mortgage to know your exact rate.
For the most part, industry experts do not expect the housing market to crash in 2026. Yes, home prices are over-inflated. But many of the risk factors that led to the 2008 crash are not present in today’s market. Low inventory and massive buyer demand should keep the market propped up. Plus, mortgage lending practices are much safer than they used to be. That means there’s not a subprime mortgage crisis waiting in the wings.
At the time of this writing, the lowest 30-year mortgage rate ever was 2.65%. That’s according to Freddie Mac’s Primary Mortgage Market Survey, the most widely used benchmark for current mortgage interest rates.
Locking your rate is a personal decision. You should do what’s right for your situation rather than trying to time the market. If you’re buying a home, the right time to lock a rate is after you’ve secured a purchase agreement and shopped for your best mortgage deal. If you’re refinancing, you should make sure you compare offers from at least three to five lenders before locking a rate. That said, rates are rising. So the sooner you can lock in today’s market, the better.
That depends on your situation. It’s a good time to refinance if your current mortgage rate is above market rates and you could lower your monthly mortgage payment. It might also be good to refinance if you can switch from an adjustable-rate mortgage to a low fixed-rate mortgage; refinance to get rid of FHA mortgage insurance; or switch to a short-term 10- or 15-year mortgage to pay off your loan early.
It’s often worth refinancing for 1 percentage point, as this can yield significant savings on your mortgage payments and total interest payments. Just make sure your refinance savings justify your closing costs. You can use a mortgage calculator or speak with a loan officer to crunch the numbers.
Start by choosing a list of three to five mortgage lenders that you’re interested in. Look for lenders with low advertised rates, great customer service scores, and recommendations from friends, family, or a real estate agent. Then get pre-approved by those lenders to see what rates and fees they can offer you. Compare your offers (Loan Estimates) to find the best overall deal for the loan type you want.
What are today’s mortgage rates?
Mortgage rates are rising, but borrowers can almost always find a better deal by shopping around. Connect with a mortgage lender to find out exactly what rate you qualify for.
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1Today’s mortgage rates are based on a daily survey of select lending partners of The Mortgage Reports. Interest rates shown here assume a credit score of 740. See our full loan assumptions here.
Selected sources:
- https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
- http://www.freddiemac.com/research/datasets/refinance-stats/index.page
The information contained on The Mortgage Reports website is for informational purposes only and is not an advertisement for products offered by Full Beaker. The views and opinions expressed herein are those of the author and do not reflect the policy or position of Full Beaker, its officers, parent, or affiliates.
By refinancing an existing loan, the total finance charges incurred may be higher over the life of the loan.
