Overview
- Average 30-year fixed rates sit near 6.1% Tuesday, with 15-year loans around 5.62%, according to Zillow data cited by CBS News.
- An announced ceasefire in the Middle East through April 22 eased investor fears and helped pull bond yields down, which lowers mortgage quotes.
- Traders widely expect the Federal Reserve to hold its policy rate this month and likely for much of 2026, CME FedWatch data show.
- Mortgage activity picked up in March as Optimal Blue reported rate-locks up 13% from February and 26% on an annualized basis, with purchases leading while the MBA purchase index stayed 7% lower than a year ago.
- Refinance offers cluster in the mid-6% range, which can cut costs for homeowners with loans above about 7% if the monthly savings beat closing costs.