Mortgage rates are driven by the bond market. Although bonds only experienced moderate, steady weakness throughout the day, mortgage rates lurched higher by an amount typically seen when the market is reacting to big, breaking news.  But there wasn't any of that sort of news on tap today--just downbeat updates that reinforced a longer timeline for geopolitical disruptions. The bigger issue for mortgage rates is that they often experience heightened volatility when they pass through the 6.25% level. Due to the underlying structure of the mortgage market, 6.25% is sort of a dead zone. If you really want to see the nuts and bolts behind that phenomenon, here's the primer. The practical result is that movement tends to be bigger when rates are rising or falling through 6.25% (or any level that ends with 0.25 or 0.75). As such, when rates began moving up from 6.125%, the slightly elevated bond market volatility made for a faster trip up to the 6.375% zone (today's MND index was revised up to 6.35% in the afternoon after ending Monday at 6.14%). This is the highest level since December 8th, 2025, though it should be noted that prior to September 2025, rates had been much higher, on average, for roughly an entire year. 

March 12, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.35% +0.11%   5.99% 7.08% 15 Yr. Fixed 5.95% +0.11%   5.55% 6.48% 30 Yr. Jumbo 6.55% +0.05%   6.1% 7.2% Compare Mortgage Rates from Local Lenders for Mar 12, 2026 Mortgage Rates Spike to 2026 Highs Thu, Mar 12, 2026 3:55PM Mortgage rates are driven by the bond market. Although bonds only experienced moderate, steady weakness throughout the day, mortgage rates lurched higher by an amount typically seen when the market is reacting to big, breaking news.  But there wasn't any of that sort of news on tap today--just downbeat updates that reinforced a longer timeline for geopolitical disruptions. The bigger issue for mortgage rates is that they often experience heightened volatility when they pass through the 6.25% level. Due to the underlying structure of the mortgage market, 6.25% is sort of a dead zone. If ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.35% +0.11 0.00 15 Yr. Fixed 5.95% +0.11 0.00 30 Yr. FHA 5.96% +0.11 0.00 30 Yr. Jumbo 6.55% +0.05 0.00 7/6 SOFR ARM 5.77% +0.22 0.00 30 Yr. VA 5.98% +0.11 0.00 Updates Daily - Last Update: 3/12 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.11 0.00 15 Yr. Fixed 5.50% +0.07 0.00 Updates Weekly - Last Update: 3/12 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 98.92 -0.34   95.71 100.50 UMBS 30YR 5.5 100.66 -0.23   98.11 101.64 10 YR Treasury 4.265 +0.038   3.932 4.590 Bonds Remain On The Run Thu, Mar 12, 2026 11:30AM The bond market doesn't look like it can catch a break as long as war persists in Iran. If it's not oil, it's fertilizer, nat gas, military spending, or a host of other inflationary knock-on effects that bode ill for the fixed income sector. Yes, the implied economic fallout would help offset the inflationary impulses, but not enough for rates to make downwa... (read more) MBS Price Change UMBS 4.5 96.80 -0.42 UMBS 5.0 98.92 -0.34 UMBS 5.5 100.66 -0.23 GNMA 4.5 97.07 -0.46 GNMA 5.0 99.53 -0.24 GNMA 5.5 100.75 -0.22 Pricing as of: 3/12 6:48PM EST US Treasury Yield Change 2 YR Treasury 3.747 +0.094 5 YR Treasury 3.872 +0.067 7 YR Treasury 4.054 +0.048 10 YR Treasury 4.265 +0.038 30 YR Treasury 4.882 -0.001 Pricing as of: 3/12 6:48PM EST Other News AI Roadmap, UAD 3.6, Repurchase Tools; False Claims Act Rumors; STRATMOR's Subservicing Survey Thu, Mar 12, 2026 11:09AM Products, Services, and Software for Brokers and Lenders Home equity lending is having a moment. The challenge for many lenders? The process behind it still looks like 2015: manual workflows, vendor emails, and too much operational juggling. FirstClose is hosting a 30-minute webinar on March 19 at 1 PM CT that examines how lenders are modernizing home equi... (read more) Latest Video Expect a temporary hit to inflation from geopolitical risks, says MetLife's... Subprime surge in borrowing: Here's what to know Sen. Tim Scott on bipartisan housing bill: A win for the American people IEA to release 400M barrels of oil from strategic reserves: Here's what to ... Around the Web NBC Senate passes major housing affordability bill by Elizabeth Warren and Tim Scott CNBC Markets hopes for Fed interest rate cuts are rapidly fading away Investing Live US initial claims 213K vs 215K estimate Census.gov New Residential Construction January 2026 Investing Live USD/JPY is right up against the highs of the year Eye on Housing Single-Family Starts Remain Soft in January on Affordability Concerns CNBC The Iran war is pushing up European energy prices. Here's why a Ukraine-style inflation shock could still be avoided Federal Reserve Capital Rules for the Real Economy - Bowman Eye on Housing Flat Conditions for Townhouse Construction Investing Live US February monthly budget -307.5B vs -75.85B expected Investing Live USD/JPY nears the highs of the year. Eyes on intervention Eye on Housing Inflation Steady Before War Eye on Housing Single-Family Permits End 2025 on a Soft Note

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