{"id":26343,"date":"2026-03-09T03:04:00","date_gmt":"2026-03-09T03:04:00","guid":{"rendered":"https:\/\/finderica.com\/?p=26343"},"modified":"2026-03-09T03:04:00","modified_gmt":"2026-03-09T03:04:00","slug":"mortgage-rates-today-friday-march-6-a-little-higher","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=26343","title":{"rendered":"Mortgage Rates Today, Friday, March 6: A Little Higher"},"content":{"rendered":"
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Yes, mortgage interest rates are higher today, but only by a little.<\/span><\/p>\n

The average interest rate on a 30-year, fixed-rate mortgage rose to 5.96% APR, according to rates provided to SS by Zillow. This is five basis points higher than yesterday and 15 basis points higher than a week ago. (See our chart below for more specifics.) A basis point is one one-hundredth of a percentage point.<\/span><\/p>\n

If you’re watching this space closely waiting for mortgage rates to fall further, don’t be too discouraged. Lenders adjust their advertised rates throughout the day, so mortgage rates’ reaction to any news \u2014 good or bad \u2014 is fast. You need to look at the larger trend to get a sense for whether daily moves are one-offs or part of a streak. And as far as larger trends go, we’re down more than 50 basis points from this time last year: During the first week of March 2025, 30-year APRs averaged 6.51%.<\/span><\/p>\n

Finally, while the economy never sleeps, markets are closed on the weekends. The rates you see Friday are unlikely to change much (if at all) until Monday.<\/span><\/p>\n

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Average mortgage rates, last 30 days<\/span><\/h3>\n<\/div><\/div>\n
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\ud83d\udcc9 When will mortgage rates drop? <\/h2>\n<\/div>\n
Mortgage rates are constantly changing,<\/span> since a major part of how rates are set<\/span> depends on reactions to new inflation reports, job numbers, Fed meetings, global news … you name it. For example, even tiny changes in the bond market can shift mortgage pricing.<\/span><\/div>\n

The Bureau of Labor Statistics released the February jobs report on Friday morning, with headline numbers that fell far below expectations. The U.S. lost 92,000 jobs last month, compared to a projected gain of 50,000.<\/span><\/p>\n

\u201cThis jobs report changes the calculus for the Fed meeting in a few weeks \u2014 the labor market remains on uncertain footing,\u201d writes Elizabeth Renter, SS Senior Economist. Central bankers at the Fed are scheduled to meet March 17-18. <\/span><\/p>\n

They\u2019ll be tasked with balancing the employment situation with inflation. Next week we\u2019ll be getting two major inflation reports \u2014 the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE). <\/span><\/p>\n

If inflation numbers are trending down, it could bolster the argument for the Fed to cut rates again to support the job market. However, this isn\u2019t likely \u2014 while central bankers will certainly be taking inflation data under consideration, it\u2019s already out of date. The U.S. has since entered a new (potentially costly) war in the Middle East, and any effects on inflation won\u2019t be recorded yet. The Fed is far more likely to hold rates steady for now until further information is available. <\/span><\/p>\n

<\/astro-island><\/p>\n

Refinancing might make sense if today\u2019s rates are at least 0.5 to 0.75 of a percentage point lower than your current rate (and if you plan to stay in your home long enough to break even on closing costs). <\/span><\/p>\n

With rates where they are right now, you may want to start considering a refi if your current rate is around 6.46% or higher.<\/span><\/p>\n

Also consider your goals: Are you trying to lower your monthly payment, shorten your loan term or turn home equity into cash? For example, you might be more comfortable with paying a higher rate for a cash-out refinance<\/span> <\/span>than you would for a rate-and-term refinance, so long as the overall costs are lower than if you kept your original mortgage and added a HELOC or home equity loan. <\/span><\/div>\n
If you’re looking for a lower rate, use SS’s refinance calculator<\/span> to estimate savings and understand how long it would take to break even on the costs of refinancing.<\/span><\/div>\n
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\ud83c\udfe1 Should I start shopping for a home?<\/h2>\n<\/div>\n

There is no universal \u201cright\u201d time to start shopping \u2014 what matters is whether you can comfortably afford a mortgage now at today\u2019s rates.<\/span><\/p>\n

If the answer is yes, don\u2019t get too hung up on whether you could be missing out on lower rates later; you can refinance down the road. Focus on getting preapproved<\/span>, comparing lender offers, and understanding what monthly payment works for your budget.<\/span><\/div>\n
SS\u2019s affordability calculator<\/span> can help you estimate your potential monthly payment. If a new home isn\u2019t in the cards right now, there are still things you can do to strengthen your buyer profile. Take this time to pay down existing debts and build your down payment savings. Not only will this free up more cash flow for a future mortgage payment, it can also get you a better interest rate when you\u2019re ready to buy. <\/span><\/div>\n
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\ud83d\udd12 Should I lock my rate?<\/h2>\n<\/div>\n
If you already have a quote you\u2019re happy with, you should consider locking your mortgage rate<\/span>, especially if your lender offers a float-down option. A float-down lets you take advantage of a better rate if the market drops during your lock period.<\/span><\/div>\n

Rate locks protect you from increases while your loan is processed, and with the market forever bouncing around, that peace of mind can be worth it.<\/span><\/p>\n

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\ud83e\udd13 Nerdy Reminder:<\/span> Rates can change daily, and even hourly. If you\u2019re happy with the deal you have, it\u2019s okay to commit.<\/span><\/p>\n<\/p><\/div>\n

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\ud83e\uddd0 Why is the rate I saw online different from the quote I got?<\/h2>\n<\/div>\n
The rate you see advertised is a sample rate<\/span> \u2014 usually for a borrower with perfect credit, making a big down payment, and paying for mortgage points<\/span>. That won’t match every buyer’s circumstances.<\/span><\/div>\n

In addition to market factors outside of your control, your customized quote depends on your:<\/span><\/p>\n

Even two people with similar credit scores<\/span> might get different rates, depending on their overall financial profiles.<\/span><\/p>\n

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\ud83d\udc40 If I apply now, can I get the rate I saw today?<\/span><\/h3>\n<\/div>\n

Maybe \u2014 but even personalized rate quotes can change until you lock.<\/span> That\u2019s because lenders adjust pricing multiple times a day in response to market changes.<\/span><\/p>\n<\/div>\n

Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Yes, mortgage interest rates are higher today, but only by a little. The average interest rate on a 30-year, fixed-rate mortgage rose to 5.96% APR, according to rates provided to SS by Zillow. This is five basis points higher than yesterday and 15 basis points higher than a week ago. (See our chart below for<\/p>\n","protected":false},"author":1,"featured_media":26344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[195],"tags":[2158,1280,3555,417,261,387],"class_list":{"0":"post-26343","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-friday","9":"tag-higher","10":"tag-march","11":"tag-mortgage","12":"tag-rates","13":"tag-today"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/26343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26343"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/26343\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/26344"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}