The average rate on a 30-year fixed mortgage rose to 6.11% as of March 12th, from the softest levels since September 2022 in the previous weeks, according to data from Freddie Mac. “The 30-year fixed-rate mortgage returned to last month’s level of 6.11%. Despite the modest uptick, buyers are responding to rates in this range, with existing-home sales increasing 1.7% in February. Purchase applications also increased this week, a welcome sign as buyers enter spring homebuying season with rates down more than half a percentage point compared to the same time last year,” said Sam Khater, Freddie Mac’s chief economist.