Trending Now - Mortgage Rates Surge to 6.46%, Hitting a Seven-month High
WHO:
ABC News - Mortgage buyer Freddie Mac reported the mortgage rates.
ABC News - Bob Broeksmit, CEO of the Mortgage Bankers Association (MBA), provided a statement regarding mortgage applications.
WHAT:
Bloomberg Wealth - The average long-term U.S. mortgage rate rose to 6.46%, marking the highest level since September 2025.
CBS News - The average rate on a typical home loan increased to 6.46%, the highest level since September 2025.
ABC News - The average long-term U.S. mortgage rate rose to 6.46% from 6.38% in the previous week.
ABC News - The average rate was at 6.64% one year ago.
ABC News - The last time the average rate was higher than 6.46% was on September 4th, 2025, when it was at 6.5%.
ABC News - The average rate on 15-year fixed-rate mortgages increased to 5.77% from 5.75% last week.
ABC News - Mortgage applications fell by 10.4% last week compared to the previous week.
WHERE:
ABC News - The information pertains to the U.S. housing market.
WHEN:
Bloomberg Wealth - The mortgage rate increase was reported on Thursday, March 31st, 2026.
ABC News - The mortgage rate increase was reported on Thursday, March 31st, 2026.
ABC News - The average rate was reported to have dropped to just under 6% five weeks prior to March 31st, 2026.
ABC News - The average rate on 15-year fixed-rate mortgages was reported to be at 5.82% one year ago.
WHY:
Bloomberg Wealth - The rise in mortgage rates is dampening hopes for the spring homebuying season.
ABC News - Rising oil prices due to the war with Iran are fueling concerns about high inflation, which is contributing to the increase in mortgage rates.
ABC News - Higher inflation expectations are influencing the Federal Reserve's interest rate policy decisions.
HOW:
ABC News - Mortgage rates are influenced by the Federal Reserve’s interest rate policy, bond market investors’ expectations for the economy and inflation, and the trajectory of the 10-year Treasury yield.
ABC News - The 10-year Treasury yield was at 4.3% in midday trading on March 31st, 2026, down from 4.42% a week prior.
(UPDATED April 2, 2026 21:08 UTC)
on Tuesday, the average long-term U.S. mortgage rate climbed to 6.46%, reaching its highest point since September 20th25. This increase in the average rate on a typical home loan is raising concerns as it dampens hopes for a robust spring homebuying season. As potential buyers face higher borrowing costs, the impact on the housing market remains to be seen.
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(UPDATED April 2, 2026 19:19 UTC)
Mortgage buyer Freddie Mac has reported that the average long-term U.S. mortgage rate rose to 6.46% from 6.38% just a week earlier, marking the highest level since September 4thth, 2025. Additionally, the average rate on 15-year fixed-rate mortgages increased slightly to 5.77%, while mortgage applications fell by 10.4% last week, reflecting rising concerns over inflation driven by escalating oil prices amid the ongoing conflict with Iran. Bob Broeksmit, CEO of the Mortgage Bankers Association, highlighted these trends, noting that higher inflation expectations are influencing the Federal Reserve's interest rate policy decisions.