The average contract rate on 30-year fixed-rate mortgages for conforming loans of $806,500 or less in the US climbed to 6.19% in the first week of March 2026, up from 2022-lows of 6.09%, according to the Mortgage Bankers Association. Mortgage activity showed continued momentum, with total applications rising 3.2%, following an 11% surge in the previous period. Applications for home purchases jumped 7.8%, while refinancing activity edged up modestly by 0.5%.