30-year mortgage rates increase - How long should buyers wait? | Today's mortgage and refinance rates, March 9, 2026

National mortgage rates were mostly higher compared to last week, according to Bankrate data. Average rates for 30-year fixed, 15-year fixed and jumbo loans increased, while 5/1 ARM rates receded.

Ten-year bond yields started climbing following the U.S. involvement in war in Iran. Since hitting a low of 3.96% on Feb. 27, the 10-year bond yield reached above 4.16% on the morning of March 6. Since 30-year mortgage rates are directly tied to these bond yields, expect higher rates than in recent weeks.

The new Employment Situation report released on March 6 showed declining payrolls in February at a surprising dip of 92,000 jobs. The Consumer Price Index — a report showing inflation rates — is next released on March 11. Both of these reports will play into the Federal Open Market Committee’s (FOMC) next meeting on March 17-18. The announcement at the meeting could move mortgage rates, even if the Fed decides to stay put.

“The job market is softening and inflation is expected to increase due to a spike in oil prices resulting from the war in Iran,” said Mortgage Bankers Association chief economist Mike Fratantoni in a statement. “Although this month’s job numbers were weaker than expected, we do not expect the FOMC to cut rates any time soon given the heightened inflation risk.”

Mortgage rates are constantly in flux. Sometimes they can swing wildly from day-to-day and lender-to-lender. That’s why Bankrate created the Mortgage Rate Variability Index. This index changes every week to show how much rates are fluctuating and the range of rates between lenders.

Rates as of 03/09/2026.

The average rate for a 30-year fixed mortgage for today is 6.15 percent, an increase of 0.11 basis points over the last week. This time a month ago, the average rate on a 30-year fixed mortgage was higher, at 6.28 percent.

At the current average rate, you'll pay $73.11 for every $100,000 you borrow. That's up $0.86 over what it would have been last week.

The average rate for the benchmark 15-year fixed mortgage is 5.53 percent, up 0.07 basis points over the last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost approximately $98.24 per $100,000 borrowed. That may put more pressure on your monthly budget than a 30-year mortgage would, but it comes with some big advantages: You'll save thousands of dollars over the life of the loan in total interest paid and build equity much faster.

The average rate on a 5/1 ARM is 5.47 percent, unchanged 0.00 basis points over the last week.

Adjustable-rate mortgages, or ARMs, are mortgage loans that come with a floating interest rate. To put it another way, the interest rate can change periodically throughout the life of the loan, unlike fixed-rate mortgages. These types of loans are best for those who expect to sell or refinance before the first or second adjustment. Rates could be materially higher when the loan first adjusts, and thereafter.

Monthly payments on a 5/1 ARM at 5.47 percent would cost approximately $67.91 for each $100,000 borrowed over the initial five years, but could climb hundreds of dollars higher afterward, depending on the loan's terms.

The average jumbo mortgage rate is 6.24 percent, up 0.02 basis points from a week ago. Last month on the, the average rate on a jumbo mortgage was lower, at 6.40 percent.

At the current average rate, you'll pay $0.16 per month in principal and interest for every $100,000 you borrow. That's up $0.16 per $100,000 compared to last week.

The average 30-year fixed-refinance rate is 6.62 percent, up 0.09 basis points from a week ago. This time a month ago, the average rate on a 30-year fixed refinance was lower, at 6.55 percent.

At the current average rate, you'll pay $67.91 per month in principal and interest for every $100,000 you borrow. That's unchanged $0.00 compared with last week.

How to get a low mortgage rate today

If you're shopping for a mortgage now, here are a few tips to help you get the best possible rate:

• Improve your credit score. While you can get a mortgage with a lower score, the best rates go to borrowers with a 780 or higher. Here are some ways to help increase your score before you apply for a mortgage.
• Raise your down payment. If you're buying a home and able to afford it, consider making a higher down payment. Just like with a higher credit score, you'll get a lower rate with a higher down payment.
• Shop around. Compare mortgage offers from at least three different lenders. Different lenders have different rates and fees at any given time. By shopping around, you could save thousands of dollars.
• Lock your rate. Locking your rate when the market drops can save you a sizable chunk of money. But, find out from your lender first the timeframe and cost associated with a rate lock.

Mortgage rates have been trending downward since the end of 2025, with the 30-year rate averaging 6.18% for the first two months of 2026. For the same period last year, rates were hovering above 7%.

Still, this steady decline has been slow and may not go much further. Bankrate projects that the average rate for 2026 will be around 6.1%. Rates may drop as low as 5.7%, but could also rise to 6.5% throughout the year.

One thing is for certain: if rates go lower, it will open up more opportunities for people to buy or refinance.

Learn more: Bankrate’s 2026 mortgage rates forecast

• Latest mortgage news this week
• Compare current mortgage rates for today

The mortgage rates in this story are derived from our national rate and APR averages. Bankrate's mortgage rates include these national rate and APR averages; Bankrate Monitor (BRM) National Index rate averages; and “top offers”:

• National rate and APR averages: Displayed as daily and weekly averages, these rates and APRs are primarily collected from the 5 largest banks and thrifts across hundreds of markets in the U.S.
• Bankrate Monitor (BRM) National Index rate averages: Reported weekly, this long-standing survey collects rates from banks and thrifts across hundreds of markets in the U.S.
• "Top offers": Displayed daily and weekly, these are an average of the rates listed first on our rate tables as advertised by our partners. The averages shown are based on the loan type and term selected.

You can compare national average mortgage rates to top offers to see how much you could save when shopping on Bankrate. Learn more about Bankrate's how we collect, display and report mortgage rates.