Overview
- Freddie Mac reported the average 30-year fixed at 6.11% for the week ending March 12, up 11 basis points from last week, with the 15-year at 5.50%.
- Rate measures diverged across providers, with Bankrate at 6.19%, Zillow near 6.00%, and daily lender indices such as Mortgage News Daily rising to roughly 6.35%.
- The 10-year Treasury yield climbed to about 4.22%–4.25%, a move widely linked to the conflict involving Iran that also lifted oil prices.
- Analysts say higher energy costs and inflation risk could delay Federal Reserve rate cuts, and the central bank is expected to hold policy steady at its March meeting.
- Despite the rate uptick, housing indicators improved as existing-home sales rose 1.7% in February and purchase applications increased, even as volatility clouds the spring outlook.