Rates Hold Near Three-Year Lows as Spring Listings Pick Up
The 30-year fixed has barely budged from the low-6% range—but geopolitical turbulence may soon change that picture.
Mortgage rates have held remarkably steady in the low-6% range over recent weeks, with the average 30-year fixed rate drifting only slightly—from roughly 5.98% to about 6.13%—keeping borrowing costs near their lowest levels in three years. For buyers and sellers alike, that stability has provided a rare window of predictability heading into what is shaping up to be a competitive spring market.
“More real-time data places the average 30-year rate at 6.13%—a figure that better captures the yield movement markets have already priced in.””
Why the Gap Matters
Freddie Mac's latest Primary Mortgage Market Survey puts the benchmark 30-year rate at an even 6.00%—a headline number that carries significant weight for consumer confidence and lender pricing. However, that figure is collected earlier in the week and does not yet fully reflect the recent jump in Treasury yields and mortgage-backed securities that followed escalating tension in the US-Israel-Iran conflict. More real-time data from Mortgage News Daily places the current average at 6.13%, offering a more up-to-date read on where the market actually stands.
The timing is significant. New listings are increasing as the spring selling season accelerates, giving buyers more inventory to choose from. With rates still hovering near three-year lows, affordability remains meaningfully better than it was during the rate peaks of late 2023—a factor that has helped bring cautious buyers back to the table. Whether that window holds will depend in large part on how bond markets digest ongoing geopolitical developments in the weeks ahead.
