Mortgage Rates Inch Higher as Housing Activity Picks Up

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) released its Primary Mortgage Market Survey for March 12, 2026 showing the 30-year fixed-rate mortgage (FRM) averaged 6.11%, up from 6.00% last week and below last year’s 6.65%.

The 15-year FRM averaged 5.50%. Existing-home sales rose 1.7% in February and purchase applications increased, signaling stronger spring housing activity.

MCLEAN, Va., March 12, 2026 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.11%.

“The 30-year fixed-rate mortgage returned to last month’s level of 6.11%,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite the modest uptick, buyers are responding to rates in this range, with existing-home sales increasing 1.7% in February. Purchase applications also increased this week, a welcome sign as buyers enter spring homebuying season with rates down more than half a percentage point compared to the same time last year.”

News Facts

• The 30-year FRM averaged 6.11% as of March 12, 2026, up from last week when it averaged 6.00%. A year ago at this time, the 30-year FRM averaged 6.65%.
• The 15-year FRM averaged 5.50%, up from last week when it averaged 5.43%. A year ago at this time, the 15-year FRM averaged 5.80%.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT:
Mollie Laniado
(571)382-1784
Mollie_Laniado@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1353a402-3ca3-426a-8b4b-ac805f2206cb

FAQ

What did Freddie Mac (FMCC) report for the 30-year mortgage rate on March 12, 2026?

The 30-year fixed-rate mortgage averaged 6.11% as of March 12, 2026. According to the company, this was up from 6.00% the prior week and below 6.65% a year earlier, reflecting modest weekly uptick but lower year‑over‑year rates.

How did the 15-year mortgage rate change in Freddie Mac's March 12, 2026 PMMS (FMCC)?

The 15-year fixed-rate mortgage averaged 5.50% on March 12, 2026. According to the company, that was up from 5.43% the prior week and down from 5.80% a year earlier, indicating small weekly movement.

What housing activity did Freddie Mac (FMCC) note alongside the March 12, 2026 rate update?

Existing-home sales increased 1.7% in February, and purchase applications rose this week. According to the company, these signs suggest buyers are responding to current rates as spring homebuying begins.

How do current 30-year rates reported by Freddie Mac (FMCC) compare to last year?

The 30-year FRM at 6.11% is about 0.54 percentage point lower than a year earlier. According to the company, rates are down more than half a percentage point versus the same time last year.

What does Freddie Mac's PMMS methodology say about the loans included in the March 12, 2026 survey?

The PMMS tracks conventional, conforming, fully amortizing purchase loans for borrowers with 20% down and excellent credit. According to the company, the survey focuses on this standardized loan cohort for rate comparisons.