Mortgage Rate Update: April 1, 2026

Mortgage interest rates experienced noticeable shifts in March 2026. This new month brings a fresh opportunity for borrowers seeking a mortgage or looking to refinance an existing home.

Factors Influencing Recent Rate Changes

Rates increased by roughly half a percentage point in March, despite the Federal Reserve maintaining its interest rate pause. This rise was driven by fluctuating economic reports, ongoing overseas conflicts, and broader geopolitical tensions. The sub-6% rates commonly seen in February were largely unavailable by the end of March.

Current Mortgage Interest Rates

Despite the recent increases, rates are still slightly lower compared to similar periods in spring 2024 and 2025. Borrowers can potentially find suitable rates by shopping around and considering mortgage points.

30-Year Mortgage Rates

As of April 1, 2026, the average interest rate for a 30-year mortgage is 6.25%, according to Zillow. This is a slight improvement from recent days.

15-Year Mortgage Rates

The average rate for a 15-year mortgage is currently 5.75%, also marginally improved from late March. It’s important to compare rates from multiple lenders to find the most affordable options.

Mortgage Refinance Rates Today

For those considering refinancing, the average 30-year mortgage refinance rate is 6.78% as of April 1, 2026, as reported by Zillow. The average rate for a 15-year refinance is 5.75%.

Refinancing Considerations

Before refinancing, carefully consider the associated closing costs. A refinance may not be beneficial if you don't plan to remain in the home long enough to recoup these expenses.

Key Takeaways

As of April 1, 2026, the average 30-year mortgage rate is 6.25%, while the 15-year option stands at 5.75%. The average 30-year refinance rate is 6.78%, with a 15-year refinance rate of 5.75%.

While rates aren't as favorable as they were approximately six weeks ago, they may still align with your financial goals. Consulting directly with a lender can provide personalized insights and potentially uncover affordable rate options.