As of March 25, U.S. mortgage rates remain near recent highs, with the 30-year fixed rate averaging 6.48% and the 15-year fixed rate averaging 6.09%. Elevated government bond yields and inflation concerns continue to push rates higher, directly impacting homebuyers' affordability. This has led to a cooling in homebuying demand, with overall mortgage applications decreasing by 10.5% last week and refinance applications dropping by 15%. The forecast for 2026 remains uncertain, with the average interest rate predicted to range between 5.7% and 6.5%.