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1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesFortune reported a 6.250% average rate for a 30-year conventional fixed mortgage and 5.646% for a 15-year conventional fixed mortgage on March 23, 2026. Its report also listed averages for jumbo, FHA, VA and USDA loans. These are market averages, not guaranteed rates or personalized offers.
Mortgage rates reported for March 23, 2026
Fortune reported the following averages from Optimal Blue data. The latest data available to Fortune on March 20 reflected loans locked as of March 19; the figures are therefore a March 23 report of recent lock data, not a record of every loan offered that day.
| Loan type | March 23 average | Prior-week average | Approximate change |
|---|---|---|---|
| 30-year conventional fixed | 6.250% | 6.190% | +6 basis points |
| 15-year conventional fixed | 5.646% | 5.515% | +13 basis points |
| 30-year jumbo | 6.473% | 6.417% | +5 basis points |
| 30-year FHA | 6.060% | 5.958% | +10 basis points |
| 30-year VA | 5.909% | 5.806% | +10 basis points |
| 30-year USDA | 5.876% | 5.937% | -6 basis points |
Rates and changes in this table are Fortune’s March 23 report of Optimal Blue data. The prior-week comparison rose for most listed categories, while the USDA average declined.
Why Freddie Mac’s figures differ
Freddie Mac’s separate Primary Mortgage Market Survey (PMMS) recorded a 6.22% 30-year fixed rate and a 5.54% 15-year fixed rate in its weekly results released March 19. Those figures are not a conflicting measurement of the same loan sample as Fortune’s March 23 table: the sources use different data and reporting methods.
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Freddie Mac describes PMMS as covering conventional, conforming, fully amortizing home-purchase loans for borrowers with 20% down and excellent credit. It is a benchmark for that stated profile, not a promise of the rate any particular borrower can receive. Freddie Mac’s archive shows its 30-year and 15-year averages moving from 6.00% and 5.43% on March 5, to 6.11% and 5.50% on March 12, and 6.22% and 5.54% on March 19. The next weekly release, for March 26, showed 6.38% and 5.75%.
Freddie Mac Chief Economist Sam Khater said on March 19: “The 30-year fixed-rate mortgage edged up this week to 6.22% but remains nearly half a percentage point lower than the same time last year.”
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What the rates mean for borrowing costs
Fortune illustrated the term difference with a $300,000 loan: its calculations estimated about $364,975.79 in interest at 6.250% over 30 years, versus about $145,420.34 at 5.646% over 15 years. These are the article’s interest calculations, not a complete affordability estimate or an individual loan quote. A shorter term has a higher scheduled monthly principal-and-interest payment, even when its rate is lower.
A published rate alone cannot show which loan costs less for a particular household. The actual offer depends on factors including credit, down payment, location, loan type, points and fees. Compare lender estimates on the same loan amount and term, and consider total costs alongside the interest rate.
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Sources
- Fortune, March 23, 2026, reporting Optimal Blue average rates and illustration: Current mortgage rates, March 23, 2026.
- Freddie Mac, PMMS and March 19, 2026 weekly results: Primary Mortgage Market Survey.
- Freddie Mac, PMMS historical archive, including the March 26, 2026 release: PMMS archive.
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