Mortgage rates are at their lowest point in more than three years, which is good news for people who want to buy a home or refinance. As of March 5, 2026, the average interest rate on a 30-year fixed-rate mortgage was 6.00%. This was a small increase from 5.98% the week before, but a big drop from 6.63% a year ago. This drop comes after President Trump’s actions, like buying bonds that brought rates below 6% earlier this year.
Last week, the average interest rate on a 15-year fixed-rate mortgage was 5.43%, which is a small drop from 5.44% and a lot lower than 5.79% in March 2025. Freddie Mac’s numbers show that things are getting more affordable as inflation slows down and the Federal Reserve sends signals. With the same monthly payment, a 0.25% drop in the rate can help buyers afford about 2.5% more home.
Lower rates are causing a lot of people to apply for loans and refinance, which will make for a strong spring housing season. Owners were stuck with high rates above 7%, but rates below 6% are making it easier to find homes and increasing sales. If economic trends stay the same, experts say that prices will slowly drop until 2026, with MBA predicting a drop to around 6.4% by the end of the year.
About the author
Daya Nanoskar is an Entertainment Writer at Awesome TV and a contributor to AWSM Times. Daya covers film news, streaming releases, celebrity updates and industry news across Hollywood and Bollywood, and has written more than 2,300 stories for Awesome TV. Story tips and corrections: hello@awesometv.com.
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