Mortgage today: rates below 6% thanks to Trump's moves, here's what changes in March 2026

In January, the mortgage market experienced significant movement. According to Zillow, today’s mortgage rates finally drop below the critical 6% threshold, with a 30-year fixed rate at 5.91% and a 15-year fixed at 5.36%. This positive trend is not accidental: policies introduced by the Trump administration played a key role in containing housing financing costs, creating more favorable market conditions compared to previous months.

How Presidential Policies Led to Lower Rates

The Trump administration launched two strategic initiatives aimed at reducing mortgage rate pressures. The first aimed to limit large institutional investors’ purchases of single-family homes, reducing competition in the residential market. The second involved Fannie Mae and Freddie Mac significantly increasing their purchases of mortgage-backed securities, injecting liquidity into the system and easing credit conditions.

These measures contributed to the rate declines we see today in the real estate market. Compared to the peak above 7% in January of the previous year, the current picture is much more favorable for those seeking home financing. Since May, the trend has been downward, gradually falling from the 6.89% threshold.

Current Rate Overview: Fixed vs. ARM Mortgages

Zillow’s data provides a detailed picture. Among traditional mortgages, the 30-year fixed rate is 5.91%, the 20-year at 5.83%, and the 15-year at 5.36%. For those preferring alternative solutions, ARMs (adjustable-rate mortgages) start at 6.17% for the 5/1 and reach 6.36% for the 7/1.

Veterans Affairs (VA) loans are an advantageous option: the VA 30-year rate is 5.57%, while the 15-year drops to 5.21%. These rates reflect national averages and can vary significantly depending on location, credit profile, and lender.

For refinancing, rates are slightly higher than purchase mortgages today. The 30-year fixed refinance rate is 5.99%, and the 15-year is 5.43%. Refinance ARMs start at 6.39% (5/1) and go up to 6.49% (7/1), while VA refinance rates are 5.46% for 30 years and 5.13% for 15 years.

Which Type of Mortgage Is Best for Today

The choice depends on each borrower’s personal profile. A 30-year fixed-rate mortgage offers lower monthly payments and significant stability: the rate remains unchanged throughout the loan term, protecting you from future surprises—except for changes in insurance and property taxes. The downside is the total interest paid: over 30 years, the overall cost is higher than shorter terms.

The 15-year fixed-rate mortgage is the opposite. Monthly payments are higher, but you benefit from lower rates and pay off the debt in half the time, saving substantially on interest. This option is ideal for those with higher income capacity who want to build home equity faster.

For short-term transfers, ARMs can be advantageous. These loans start with lower introductory rates, with a fixed period of 5 or 7 years, after which the rate adjusts periodically. The benefit is lower initial payments; the risk is future uncertainty when the rate becomes variable. If you plan to sell before the fixed period ends, ARMs may be the best solution.

When Is the Right Time to Buy a Home

March 2026 presents a relatively favorable environment compared to pandemic months. Home prices have stopped rising at unsustainable rates seen in 2021-2023, making the current market more balanced for buyers. Speculative pressures have eased, and conditions are generally more stable.

However, the “perfect timing” in real estate is hard to pinpoint precisely, just like in financial markets. The best decision aligns with your personal circumstances: employment situation, savings capacity, medium- to long-term housing plans. If the numbers work for your situation, then it’s the right time.

Frequently Asked Questions About Mortgages Today

What is the current average rate for a 30-year mortgage?
According to Zillow, the national average for a 30-year mortgage is 5.91%. However, this varies significantly across sources: Zillow gathers data from its credit marketplace, while Freddie Mac uses loan application info. Also, your actual rate depends on factors like your state, ZIP code, lender, loan type, and credit profile. It’s always advisable to get quotes from multiple lenders.

Will mortgage rates continue to fall in the coming months?
Forecasts do not indicate significant declines. The Mortgage Bankers Association estimates the 30-year rate will stay around 6.4% through the end of 2026. Fannie Mae predicts rates will remain above 6% until year-end, possibly dropping to 5.9% in Q4 2026. Much depends on economic trends and Federal Reserve policy decisions.

How can I get the best refinancing rate?
The process is similar to buying. First, improve your credit score by paying debts on time and reducing your debt-to-income ratio (DTI). Second, opting for shorter terms—like 15 years instead of 30—can secure better rates, though monthly payments will be higher. Compare offers from different lenders to find the most competitive deal.