Mortgage rates reach 6.46%, Freddie Mac reports
Freddie Mac said the average rate on the 30-year fixed mortgage reached 6.46% for the week ending April 2, 2026. That figure represents an increase from 6.38% the week before and the highest reading since early September of last year.
The data comes from the government-sponsored mortgage finance company's Primary Mortgage Market Survey, which tracks rates offered by lenders across the country.
The survey is released each Thursday and covers loans for borrowers with strong credit who make a 20% down payment.
Rates on the 15-year fixed mortgage also moved higher, averaging 5.77% compared with 5.75% a week earlier.
“The 30-year fixed-rate mortgage edged up, averaging 6.46% this week,” said Sam Khater, Freddie Mac’s chief economist.
This marks the fifth straight weekly increase for the 30-year rate.
A year ago the same benchmark stood at 6.64%, meaning current borrowing costs are still lower than they were at this point in 2025 even after the recent run-up.
The timing adds pressure to the housing market just as the busiest buying period of the year begins.
Higher rates raise monthly payments for new purchases and make refinancing less attractive for many homeowners who locked in much lower rates in previous years.
Applications for home loans have nevertheless shown year-over-year gains, according to separate industry trackers, suggesting some buyers remain active despite the cost of financing.
Freddie Mac collects its figures from actual lender quotes rather than advertised teaser rates, providing a reliable snapshot of what borrowers with solid credit profiles are seeing in the market.
The company does not tie the latest move to any single external factor, though some analysts have pointed to broader market shifts including geopolitical developments and their effect on oil prices and Treasury yields.
The latest survey offers a clear benchmark for anyone comparing loan offers or tracking how borrowing costs evolve in the weeks ahead.
Source: https://www.freddiemac.com/pmms
