The Federal Reserve is set to meet this week to discuss interest rate policy for the first time since January, with expectations to maintain current rates amid ongoing geopolitical tensions and inflation concerns. As of March 16, 2026, the average mortgage interest rate is 6.12% for 30-year loans and 5.62% for 15-year loans, both showing an uptick from earlier in the year. Homebuyers are advised to consider locking in these rates soon, as further increases may follow. Refinance rates have also risen, averaging 6.73% for 30-year terms and 6.38% for 15-year terms, emphasizing the importance of evaluating options carefully.
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