Mortgage interest rates have seen a positive shift, with the average rate for a 30-year mortgage at 5.87% and 5.37% for a 15-year term as of March 5, 2026. The median refinance rate stands at 6.49% for 30-year loans and 5.53% for 15-year options. Borrowers are encouraged to shop around to find potentially lower rates, especially with upcoming events that could influence the mortgage market. Locking in a rate now may help protect against future increases.
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