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6h ago

U.S. Mortgage Rates Return to 6% After Brief Dip Below 6%

Fresh inflation worries tied to the Iran conflict lifted Treasury yields, nudging borrowing costs off last week’s milestone.

In an aerial view, single family homes are seen in the Lake Murray community on January 31, 2026 in San Diego, CA.
A person jogs past single family homes, Tuesday, Feb. 10, 2026, in Nashville, Tenn. (AP Photo/George Walker IV)
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Overview

  • Freddie Mac reported the 30-year fixed mortgage averaged 6.00% for the week ending March 5, up from 5.98% a week earlier, the first sub‑6% reading since 2022.
  • Economists cite higher oil prices and a jump in the 10-year Treasury yield to about 4.14% as key drivers, with fears of wartime inflation pushing borrowing costs higher.
  • GasBuddy estimates tanker slowdowns through the Strait of Hormuz are restricting access to roughly 20 million barrels of oil per day, and U.S. gasoline prices rose 26 cents in a week.
  • Despite the uptick, rates are nearly a full percentage point lower than a year ago, and Freddie Mac notes refinance activity has increased with purchase applications running ahead of last year.
  • Housing demand remains subdued as the National Association of Realtors reported an 8.4% drop in January existing-home sales, and economists warn a prolonged conflict could sustain inflation and keep rates elevated.