In February 2026, the 30-year average mortgage rate fell to 5.87%, with some qualified borrowers finding rates near 5% — the first real relief for many sidelined buyers in years. Then geopolitical shocks pushed the rate back up to 6.37% by late March. As of late April, Zillow’s 30-year average had pulled back to 6%, with experts forecasting rates in the low-to-mid 6% range through May, with a lot depending on ceasefire talks in the Iran conflict and incoming inflation data.