Mortgage interest rates have dipped below 6%, with the average rate for a 30-year mortgage at 5.87% and 5.37% for a 15-year term as of March 3, 2026. Refinance rates are higher, averaging 6.44% for a 30-year term and 5.50% for a 15-year option. Borrowers are encouraged to shop around for competitive rates, especially with a Federal Reserve meeting approaching that could influence future rates.
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