What are today's mortgage interest rates: March 23, 2026?
Following a month in which new reports showed inflation was stuck and unemployment rising, not to mention a continued pause in interest rate cuts by the Federal Reserve, borrowers are ending March in a more uncertain economic climate than they started. At the same time, lenders may now have had sufficient time to account for these recent developments, meaning that the rates they offer borrowers could already reflect these changes. That means borrowers can shop around with a bit more confidence, knowing that many of the anticipated changes for March have already taken place.
And shopping around is particularly important for homebuyers and owners looking to refinance. This has been shown to save borrowers by offering a rate up to 1 percentage point lower than they'd receive otherwise. With market changes pronounced, it's especially important to do your due diligence when searching for the lowest rate and best term possible. That begins with establishing a baseline to compare against by understanding where today's rates stand. So, what are today's mortgage interest rates, specifically, as of March 23, 2026? That's what we'll examine below.
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What are today's mortgage interest rates?
The average mortgage interest rate on a 30-year mortgage is 6.37% as of March 23, 2026, according to Zillow. The average rate on a 15-year mortgage is 5.87%. Both are up by more than 25 basis points from their February levels, before a spike in geopolitical tensions.
That said, these are averages from a single source, so it pays to shop around to see how other lenders are responding to today's economic news. Some may have rates that are a bit higher, while others may be offering rates that are a bit lower. But every basis point counts when securing a mortgage, particularly over a three-decade period. So be sure to take the time to thoroughly research not only rates but also lenders, terms, fees and closing costs.
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What are today's mortgage refinance rates?
The average mortgage refinance rate on a 30-year mortgage loan is 6.90% as of March 23, 2026, according to Zillow. The average refi rate on a 15-year term is currently 6.04%, up considerably from the mid-5% range it had sat near in recent weeks. When considering your refinance options now, make sure the rate is at least half a percentage point below your current rate, ideally at least one percentage point lower.
If you can't lock in those savings now, then it may be worth holding until rates here move again in a more cost-effective way. Don't forget closing costs, which must be accounted for to accurately determine the true value of a refinance, whether now or in the not-too-distant future.
The bottom line
The average mortgage interest rate on a 30-year mortgage is 6.37% as of March 23, 2026, and 5.87% on a 15-year mortgage. The average refinance rate on a 30-year term, meanwhile, is now 6.90%, and it's 6.04% for a 15-year alternative. With all four options noticeably higher than they were just a few weeks ago, it's more important than usual to take the time to research them. Consider speaking with lenders directly, too, who may be able to better outline your options and present you with rates and terms that aren't always listed on online marketplaces.
