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Mortgage rate forecast for next week (Feb. 24–28)
Mortgage rates came down for the fifth straight week. The average 30-year fixed rate mortgage (FRM) declined to 6.85% on Feb. 20 from 6.87% on Feb. 13, according to Freddie Mac.
"The 30-year fixed-rate mortgage has stayed just under 7% for five consecutive weeks and in that time has fluctuated less than 20 basis points. This stability continues to bode well for potential buyers and sellers as we approach the spring homebuying season."
— Sam Khater, Chief Economist at Freddie Mac
Mortgage rates fluctuated significantly in 2023, with the average 30-year fixed rate going as low as 6.09% and as high as 7.79%, according to Freddie Mac. That range narrowed in 2024, with a spread of 6.08% to 7.22%. With the economy possibly heading into a recession, we may have already seen the peak of this rate cycle. But if inflation rises, mortgage rates could uptrend.
Expert Mortgage Rate Predictions for March
Experts from Realtor.com, First American, Home Qualified and CJ Patrick weigh in on whether 30-year mortgage rates will climb, fall, or level off in March.
Ralph DiBugnara
President at Home Qualified
"The market is starting to slowly but steadily see some small movement of mortgage rates coming down. I believe March will be around the same averages we have seen through February. Historically, we would see the greatest drop in mortgage rates come during the spring buying season. If inflation ticks down and consumer spending slows along with increased seasonal home buying, we should see a significant reduction in interest rates."
Hannah Jones
Senior Economic Research Analyst at Realtor.com
"Mortgage rates are likely to remain high through March. We may see some volatility as markets weigh the implications of the Trump administration's various economic proposals and policy actions. PCE inflation data could influence rates, especially if it comes in higher-than-expected. Overall, we expect both inflation and mortgage rates to be higher for longer than initially expected, but the path is not yet clear due to considerable policy uncertainty."
Rick Sharga
CEO at CJ Patrick Company
"With consumer confidence plummeting and a great deal of uncertainty and volatility in the market as the Trump Administration continues to promise high tariffs and mass deportations, there's been a flight to safety in the bonds market, driving down bond yields. Because of those lower yields, we're seeing what is probably a temporary dip in mortgage rates, which could reverse course suddenly if the next inflation report comes in higher than expected. But for now, it looks like rates for a 30-year fixed-rate loan will rest somewhere between 6.75–7.0% for at least the next few weeks, while the market settles into its new reality."
Sam Williamson
Senior Economist at First American
"With a strong U.S. labor market and inflation running hotter than anticipated, the Federal Reserve is likely to hold off on cutting interest rates at its upcoming March meeting. This limits downward pressure on 10-year Treasury notes, which mortgage rates tend to follow. Consequently, we expect mortgage rates to remain stable in March, fluctuating in the upper 6% range."
Key Takeaway
All four experts agree: mortgage rates are likely to moderate in March 2025, hovering in the upper 6% range. The spring buying season could bring further relief — but inflation data and Fed policy remain the key wildcards.
Originally published on The Mortgage Reports by Paul Centopani, February 26, 2025.
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