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Monitoring the mortgage interest rate environment each day for affordable opportunities is critical for buyers and owners hoping to refinance. Unfortunately, what many borrowers have been discovering in recent weeks is that rates are considerably higher than they were compared to what was available earlier in the year. With the Federal Reserve continuing to pause interest cuts at its meeting last week, which followed disappointing unemployment and inflation report releases, rates here have noticeably ticked up from the mid-5% range they had been near in mid-February.
At the same time, rates are still lower than they were one year ago. And if buyers or owners add mortgage interest points to their offers, they may be able to secure a rate that’s low enough to justify taking action. To best determine their next steps, however, borrowers will need to know where mortgage interest rates actually stand right now, as of March 26, 2026.
Below, we’ll outline what they need to know. By understanding where rates are currently, they can also determine if a mortgage rate lock makes sense right now – or if they’re better served by waiting for rates to change once again.
Start by seeing how low your current mortgage rate offers are here now.
What are today’s mortgage interest rates?
The average mortgage interest rate for a 30-year mortgage is 6.25% as of March 26, 2026, according to Zillow. The average mortgage rate on a 15-year mortgage is 5.75%. With these being higher than what borrowers were accustomed to seeing in recent weeks, it’s important to consider alternative ways to secure a lower rate. This can mean shopping around extensively for rates and lenders, adding mortgage points and potentially even making a larger down payment than first planned.
Consider, too, speaking with lenders directly, as they may be able to present you with affordable workarounds and rates and terms that aren’t clearly listed on their websites. Finally, remember that the best rates will be reserved for borrowers with the highest credit scores. So, if your credit needs improvingconsider working there first.
Learn more about your current mortgage rate options here.
What are today’s mortgage refinance rates?
The average mortgage refinance rate on a 30-year mortgage is 6.87% as of March 26, 2026, while the median refi rate for a 15-year mortgage is 6.02%, according to Zillow. But don’t just look at today’s rates to make a decision about refinancing. Looking at your current mortgage rate can help, too.
In other words, while today’s refinance rates may be higher than they were, if they represent significant savings compared to your current rate, taking action may still be valuable. Ask lenders, too, about their 20-year refinance optionswhich can potentially offer a mix of a shorter term and a better rate than some other, more conventional loan terms.
The bottom line
The average mortgage interest rate on a 30-year mortgage is 6.25% as of March 26, 2026, while its 5.75% for a 15-year mortgage purchase. The median refinance rate on a 30-year mortgage, meanwhile, is now 6.87%, and its 6.02% for a 15-year alternative. With these just being averages, however, albeit higher than they were, it’s arguably more important than usual to take the time to shop around to see what else is available. And current homeowners looking to refinance should consider this approach, too, as they don’t necessarily need to refinance with the same lender that currently holds their loan.