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- Key Takeaways
- Mortgage rates have increased dramatically
- Rates for 30-Year Mortgages Jump Nearly a Quarter-Point
- What is the 30-Year Rate of Your State?
- Mortgage rates for 15-Years are Up Two Tenths of a Percentage
- Jumbo 30-Year rates not far below 2025 high
- What is a Jumbo Loan?
- Here's How Much Monthly Payments Are Now
- How We Track Mortgage Rates
Key Takeaways
- Mortgage rates are on the rise after falling to the lowest level this year last month.
- Rates on new 30-year fixed-rate loans averaged 6.84% on Friday—a jump of 24 basis points over the week but still a quarter percentage point below 2025’s peak of 7.09%.
- The 15-year rate rose by 20 basis points, to a new weekly average of 5.93%. This compares with 6.26% around the Christmas holidays.
- This week, Jumbo 30-year rates increased by 18 basis point on average. This is down from the 6.95% high in 2025.
- On a new $350,000 loan with a 30-year repayment term, the average rate today would translate into a $56 increase in your monthly payment compared to last week. Other loan types and amounts are listed in our tables below.
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Mortgage rates have increased dramatically
Though new purchase mortgage rates saw welcome declines in late November and early December, they surged higher around Christmas—and then higher still in January. But the last two months have brought some welcome news for house hunters—with the flagship 30-year average not just dipping below the 7% mark but holding firmly in 6% territory.
The rates have been rising again in the last two week, with notable increases this past weekend. Even so, rates are still well below the 2025 highs registered on January 10.
Below you can see the average changes in each new purchase loan over a 1-week period. Then, we will dive deeper into 30-year, 15 year, and jumbo-term 30-year fixed rate loans.
| Mortgage Type | Mar. 7 averages | Mar. 14 averages | One-week change |
|---|---|---|---|
| Fixed Rate 30-Year Agreement | 6.60% | 6.84% | + 0.24 |
| FHA 30-Year fixed | 6.93% | 7.15% | + 0.22 |
| VA 30-Year Fixed | 6.12% | 6.45% | + 0.33 |
| 20-Year Fixed | 6.31% | 6.57% | + 0.26 |
| Fixed 15-Year Rate | 5.73% | 5.93% | + 0.20 |
| FHA 15-Year Fix | 6.46% | 6.73% | + 0.27 |
| Fixed Rate 10-Year Agreement | 5.56% | 5.97% | + 0.41 |
| 7/6 ARM | 7.00% | 7.38% | + 0.38 |
| 5/6 ARM | 7.03% | 7.29% | + 0.26 |
| Jumbo 30-Year Fixed | 6.67% | 6.85% | + 0.18 |
| Jumbo 15-Year Fixed | 6.43% | 6.74% | + 0.31 |
| Jumbo 7/6 ARM | 6.87% | 6.78% | – 0.09 |
| Jumbo 5/6 ARM | 6.94% | 6.97% | + 0.03 |
Rates for 30-Year Mortgages Jump Nearly a Quarter-Point
Last week, rates on 30-year new purchases loans were 24 basis points higher than they were the previous Friday. The average rate was 6.84%. On Feb. 28, the average rate was just 6.55%. This is a low for 2025. Compared to two months ago, when rates shot up to a 7-month high of 7.09%, today's 30-year rates are 25 basis points lower.
Despite the dip that occurred in late February/early March, the situation was better in September when the 30-year-average plunged to its lowest level of two years, 5.89%. (The cheapest Friday average is 6.03%). Rates soared in October and November, and then again around Christmas and January.
What is the 30-Year Rate of Your State?
We publish the national average rate for different loan types and also the 30-year average rate for each state every business day. New York, California, Florida, and other states have the lowest rates for 30-year loans.
Mortgage rates for 15-Years are Up Two Tenths of a Percentage
The average rate for 15-year new purchases loans increased by 20 basis points, to 5.93%. That's a 29-point improvement vs. the Jan. 10 peak of 6.22%, but substantially above the two-year low of 4.97% registered in September.
Jumbo 30-Year rates not far below 2025 high
Last week, the average rate on 30-year jumbo new purchase loans rose by 18 basis points to 6.85%. That's just 10 basis points below the 2025 high of 6.95%. In September, the rates on new 30-year Jumbo Loans fell as low as 6.24 percent, with the lowest average weekly rate being 6.39%.
What is a Jumbo Loan?
A jumbo mortgage is one that exceeds the maximum loan limits for Fannie Mae and Freddie Mac conforming loans—$806,500 for single-family homes in most parts of the U.S. in 2025, but up to $1,209,750 in certain more expensive areas.
Here's How Much Monthly Payments Are Now
To see how much this week’s rate increases would impact monthly payments for new borrowers, our tables below lay out the principal-plus-interest payment for various loan amounts with a 30-year, 15-year, or jumbo 30-year fixed-rate new purchase mortgage.
| Monthly Mortgage Payments on a 30-Year-Loan | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Mar. 7 | 6.60% | $1,597 | $2,235 | $2,874 | $3,513 | $4,151 |
| Fri, Mar. 14 | 6.84% | $1,636 | $2,291 | $2,946 | $3,600 | $4,255 |
| One-week change | + 0.24 | + $39 | + $56 | + $72 | + $87 | + $104 |
| Mortgage Payments on a 15-Year Loan | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Mar. 7 | 5.73% | $2,073 | $2,903 | $3,732 | $4,561 | $5,391 |
| Fri, Mar. 14 | 5.93% | $2,100 | $2,940 | $3,780 | $4,620 | $5,461 |
| One-week change | + 0.20 | + $27 | + $37 | + $48 | + $59 | + $70 |
By definition, 30-year jumbo mortgages are bigger loans. So below we've run our calculations on loan amounts of $800,000 to $1.2 million.
| Jumbo 30-Year loan monthly mortgage payments | ||||||
|---|---|---|---|---|---|---|
| National average rate | $800,000 Loan | Loan of $900,000. | One million dollar loan | $1 Million Loan | A $1.2 million Loan | |
| Fri, Mar. 7 | 6.67% | $5,146 | $5,790 | $6,433 | $7,076 | $7,719 |
| Fri, Mar. 14 | 6.85% | $5,242 | $5,897 | $6,553 | $7,208 | $7,863 |
| One-week change | + 0.18 | + $96 | + $107 | + $120 | + $132 | + $144 |
How We Track Mortgage Rates
The national and state averages cited above are provided as is via the Zillow Mortgage API, assuming a loan-to-value (LTV) ratio of 80% (i.e., a down payment of at least 20%) and an applicant credit score in the 680–739 range. The rates are what borrowers can expect to receive from lenders when they get quotes based on their qualifications. These rates may differ from teaser rates advertised. © Zillow, Inc., 2024. Zillow’s Terms of Service apply.
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Federal Housing Finance Agency "FHFA Announces Conforming Loan Limit Values for 2025."
