Rates Are Back at 6.13% — Here's the Real Story
After briefly touching 5.99%, the 30-year fixed has climbed back to 6.13%. Here's what's driving it — and why buyers still have more power than they did a year ago.
After a brief dip to 5.99% — the first sub-6% reading since 2022 — the 30-year fixed has moved back up to 6.13% as of March 5. Freddie Mac's weekly survey came in at 6.00%, but that reflects a slight lag from last week's momentary low. The Mortgage News Daily daily index, which updates in real time, is the more accurate read right now. (Sources: Mortgage News Daily, Freddie Mac, March 5, 2026)
The driver is familiar: the Iran conflict rattled oil markets, pushed inflation expectations higher, and Treasury yields followed. The 10-year Treasury is now sitting around 4.10% — up from the low 3.9% range it touched just two weeks ago. When yields rise, mortgage rates rise with them. (Source: Mortgage News Daily)
Here's the perspective worth keeping: a year ago, rates were averaging 6.63%. At 6.13% today, that's a real difference. On a $400,000 loan, you're looking at roughly $150/month in savings compared to early 2025 — and Zillow's senior economist noted that buying power is up about $30,000 year-over-year. The headlines will call this a rate spike. The math says otherwise.
The bottom line: the sub-6% window opened and closed fast. But 6.13% is still meaningfully better than where we've been. If the home is right and the payment works, now is a good time to know your exact numbers. Reach out and I'll build your complete plan — side-by-side loan options, a video walkthrough, and your Freedom Point. No obligation.
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