This update looks at mortgage and refinance interest rates on March 29, 2026, with national averages from Zillow and quick guidance on what the numbers mean for buyers and refinancers. Expect clear rate figures, refinance comparisons, a practical payment example on a $300,000 loan, and notes on rate drivers and lender shopping. Read on for the latest averages and straightforward takeaways you can act on today.
This weekend mortgage rates reached their highest level since the end of September, and Zillow reports the national average 30-year fixed mortgage at 6.47% while the 15-year sits at 5.90%. Those headline numbers matter because they shape monthly payments and the calculus for refinancing. Keep in mind these are national averages and your local market and personal profile will change the actual offers you see.
On the purchase side, national average rates from Zillow show a spread across common products: the 20-year fixed is about 6.50%, 5/1 ARMs average 6.71%, and 7/1 ARMs are near 6.56%. Veterans looking at VA loans can expect lower numbers on average, with a 30-year VA around 5.99%, 15-year VA at 5.55%, and 5/1 VA roughly 5.53%. Remember that lenders round to the nearest hundredth and that these values shift with markets and individual borrower profiles.
Refinance rates are modestly higher across the board today, with a Zillow average 30-year refinance rate of 6.60% and a 15-year refinance near 5.97%. Other refinance points include a 20-year at 6.57%, 5/1 ARM at 6.87%, and a 7/1 ARM hovering around 6.52%. VA refinances are competitive too, showing a 30-year VA at about 5.92%, 15-year VA at 5.71%, and 5/1 VA near 5.29%.
Use a mortgage calculator to test scenarios, because small rate differences can change your monthly payment and long-term interest dramatically. Lenders and online tools will also factor in taxes and insurance so you see a closer-to-real monthly cost, not just principal and interest. Plug in different down payments and terms to compare the true impact of rate moves and term choices.
Comparing a 30-year and a 15-year makes the trade-offs obvious: the 30-year at 6.47% keeps monthly payments low by stretching principal over 360 months, while the 15-year at 5.90% saves huge amounts in interest but raises the monthly bill. For example, on a $300,000 mortgage, a 30-year at 6.47% yields about $1,890 per month toward principal and interest and roughly $380,504 in interest over the life of the loan. The same balance on a 15-year at 5.90% jumps monthly payments to about $2,515 but cuts lifetime interest to about $152,770, showing where the long-term savings come from.
Fixed-rate loans lock your interest for the full term, offering predictability unless you refinance, while adjustable-rate mortgages hold a lower introductory rate for a set period and then adjust. ARMs typically begin with a lower rate but carry the risk that payments will rise after the initial lock; a 7/1 ARM, for example, fixes the rate for seven years and adjusts annually after that. Lately some fixed products have sometimes priced lower than certain ARMs, so compare actual offers closely and ask lenders for examples of post-adjustment scenarios.
To land a lower rate, aim for a strong borrower profile: larger down payments, a high credit score, and a low debt-to-income ratio usually get the best pricing. Practical steps include saving more for a down payment, improving your credit, and reducing non-mortgage debt before you lock in a rate. Waiting for market rates to fall is a gamble; improving your financial picture is a controllable way to influence your offer.
Shop smart when choosing a lender: get mortgage preapproval from three or four companies within a short window to minimize credit score impact and to create apples-to-apples comparisons. Look beyond the headline interest rate and compare the APR, which folds in fees and discount points to show the real annual cost of borrowing. A lower rate with heavy upfront fees can be worse than a slightly higher rate with low closing costs, depending on how long you plan to keep the loan.
Forecasts vary, but industry projections from February put the 30-year mortgage near 6.10% to 6.00% through the end of 2026, even as current averages remain higher. Regional price differences and lender overlays mean your best route is to check current quotes and run your numbers using realistic scenarios. That way you make decisions based on where you stand today, not just national headlines.
