Mortgage rates jump to 6.38%, squeezing spring homebuyers further

Another rate hike hits homebuyers hard just as spring shopping heats up. Will this latest surge cool the housing market's momentum?

, and Administrator

2026 April 20 . 8:01 AM

1 min read

The image shows a graph on a white background with different colored lines representing the 30-year... — The image shows a graph on a white background with different colored lines representing the 30-year fixed rate mortgage average in the United States. The graph is accompanied by text that provides further information about the data.

Freddie Mac's Latest Primary Mortgage Market Survey Shows 30-Year Fixed-Rate Mortgages Climbing to 6.38%

Mortgage rates jump to 6.38%, squeezing spring homebuyers further

Freddie Mac's latest Primary Mortgage Market Survey shows 30-year fixed-rate mortgages climbing to 6.38% as of March 26, up 16 basis points from last week's 6.22% but still well below the 6.65% recorded a year earlier.

Despite the uptick, the housing market continues to improve gradually, with year-over-year gains in purchase and refinance applications signaling a more affordable spring buying season ahead.