After spending the entirety of last week calmy holding the lowest levels in more than 3 years, mortgage rates jumped sharply higher yesterday. That said, everything's relative. Even after that "sharp" increase, the average rate was still one of the lowest in years apart from last week. There was slightly more cause for concern this morning as the underlying bond market increasingly swooned.  When bonds lost ground, rates move higher.  But unlike yesterday, which involved pervasive gradual weakness throughout, today saw a meaningful recovery shortly after the market opened. Bonds ended up making it almost all the way back to 'unchanged,' thus allowing most lenders to reissue revised rates that were slightly lower than this morning. The average lender didn't make it quite back to yesterday's latest levels, but the market movement offered an important proof of concept. Specifically, we're not necessarily destined to see a runaway rate spike in the coming days. As always, there's an important caveat: we're not necessarily destined to see anything at all when it comes to the future of rate movement.  Depending on the outcome of economic data, rates could continue higher or recover back toward recent lows. Geopolitical developments can continue adding volatility for better or worse.  If there's one take away, it's simply that volatility risks are much more pronounced this week compared to the past 2 weeks. 

March 3, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.13% +0.01%   5.99% 7.08% 15 Yr. Fixed 5.72% +0.04%   5.55% 6.48% 30 Yr. Jumbo 6.40% +0.06%   6.1% 7.2% Compare Mortgage Rates from Local Lenders for Mar 3, 2026 Mortgage Rates Recover Moderately After Starting at 3-Week Highs Tue, Mar 3, 2026 3:21PM After spending the entirety of last week calmy holding the lowest levels in more than 3 years, mortgage rates jumped sharply higher yesterday. That said, everything's relative. Even after that "sharp" increase, the average rate was still one of the lowest in years apart from last week. There was slightly more cause for concern this morning as the underlying bond market increasingly swooned.  When bonds lost ground, rates move higher.  But unlike yesterday, which involved pervasive gradual weakness throughout, today saw a meaningful recovery shortly after the market opened. Bonds en... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.13% +0.01 0.00 15 Yr. Fixed 5.72% +0.04 0.00 30 Yr. FHA 5.70% +0.02 0.00 30 Yr. Jumbo 6.40% +0.06 0.00 7/6 SOFR ARM 5.40% +0.08 0.00 30 Yr. VA 5.72% +0.02 0.00 Updates Daily - Last Update: 3/3 Freddie Mac Rate Change Points 30 Yr. Fixed 5.98% -0.03 0.00 15 Yr. Fixed 5.44% +0.09 0.00 Updates Weekly - Last Update: 2/26 Mortgage Bankers Assoc. 30 Yr. Fixed 6.17% -0.04 0.56 15 Yr. Fixed 5.50% -0.15 0.73 30 Yr. Jumbo 6.21% -0.09 0.27 Updates Weekly - Last Update: 2/18 UMBS 30YR 5.0 99.98 -0.18   95.71 100.50 UMBS 30YR 5.5 101.38 -0.08   98.11 101.64 10 YR Treasury 4.061 +0.025   3.932 4.590 Heavy Overnight Selling But Inflation Narrative Remains in Doubt Tue, Mar 3, 2026 9:47AM Bonds sold off again overnight with 10yr yields now challenging the 4.10% technical level in early trading. MBS are down another 3/8ths, roughly. And there's stronger correlation with higher oil prices and rising bond yields. So in light of our contrarian take yesterday, are we now forced to acquiesce to the "higher inflation/higher rates" narrative?  N... (read more) MBS Price Change UMBS 4.5 98.17 -0.22 UMBS 5.0 100.00 -0.16 UMBS 5.5 101.36 -0.09 GNMA 4.5 98.25 -0.13 GNMA 5.0 100.09 -0.02 GNMA 5.5 101.17 -0.03 Pricing as of: 3/3 6:02PM EST US Treasury Yield Change 2 YR Treasury 3.511 +0.039 5 YR Treasury 3.641 +0.032 7 YR Treasury 3.838 +0.032 10 YR Treasury 4.063 +0.027 30 YR Treasury 4.706 +0.031 Pricing as of: 3/3 6:02PM EST Other News BBYS, Lead Management, U/W, Processing, Verification Tools; Recapture Webinar; Capital Markets Tue, Mar 3, 2026 10:57AM At the L1 Summit, technology is obviously a key segment of many sessions. Tech is helping larger companies in their moves in controlling the borrower funnel. Artificial intelligence (AI) with its pros and cons but hoped-for benefits to productivity and therefore cost reduction, is a common conversation topic. Third party provider offerings are also theme. es... (read more) Latest Video 'A focus on home affordability': Compass CEO and Rocket CEO on new strategi... Final S&P Global Manufacturing PMI rises to 51.6 in February ISM Manufacturing PMI comes in at 52.4 in February February Chicago PMI comes in at 57.7, beating estimates Around the Web Investing Live Feds Kashkari: Iran war impact could have monetary policy impact CNBC Mortgage rates jump sharply higher after Iran strikes, reversing last week's decline Eye on Housing Multifamily Absorption Rate Remains Below 50% CNBC Oil surges for second day, Brent tops $83 after Iran orders Strait of Hormuz closure CNBC Treasury yields rise as investors weigh escalating U.S.-Iran war CNBC U.S. Treasury yields ticks higher as investors monitor U.S.-Israel strikes on Iran S&P Global US manufacturing growth weakest in seven months Realtor.com The Ban on Investors Is Stuck on One Key Question: What Is Large? Eye on Housing 2024 Home Improvement Loan Applications: A State- and County-Level Analysis PR Newswire Manufacturing PMI® at 52.4%; February 2026 ISM® Manufacturing PMI® Report Eye on Housing Private Residential Construction Spending Edges Higher in December Eye on Housing Price Growth for Building Materials Slows to Start the Year Eye on Housing Gains for Student Housing Construction in the Last Quarter of 2025

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