Mortgage Rates Today, March 11, 2026: 30-Year Refinance Rate Rises by 8 Basis Points

If you're thinking about refinancing your mortgage, it's good to know that today, March 11, 2026, saw a slight uptick in the average 30-year fixed refinance rate, now sitting at 6.58%. While this is just a small climb of 8 basis points from last week, it's worth paying attention to. On the bright side, the 15-year fixed refinance rate is holding steady at a much lower 5.57%, and the 5-year adjustable-rate mortgage (ARM) refinance rate is also stable at 6.45%.

Today's numbers, while showing a minor increase on longer-term loans, suggest we're still in a pretty good spot for refinancing compared to where rates have been not too long ago.

Mortgage Rates Today, March 11, 2026: 30-Year Refinance Rate Rises by 8 Basis Points

Let's break down what these rates mean in simple terms. Zillow, a reliable source for housing data, tells us the following:

Last updated: Wednesday, March 11, 2026

The fact that the 30-year fixed refinance rate is up slightly doesn't necessarily mean it's a bad time to refi. It really depends on what rate you currently have and what your financial goals are. For many, snagging a rate below 7% is still a huge win.

Refinance Activity is Booming!

Even with today's minor rate hike, refinance activity is incredibly strong. It's actually at its highest point in more than three years! Think about it: many of us locked in mortgages when rates were much higher, like over 7%, back in 2023 and 2024. Now, with rates dipping lower earlier this year, a lot of people are suddenly finding themselves eligible to save a good chunk of money by refinancing.

Here’s what’s really telling:

• Application Surge: The Mortgage Bankers Association (MBA) is reporting that refinance applications have skyrocketed. They're up an impressive 109% compared to this time last year. That’s a massive jump!
• Origination Milestone: Looking at the last quarter of 2025, refinancing made up almost 40% of all the money lent out for mortgages. This is the highest percentage we’ve seen since early 2022. It shows just how many people are taking advantage of the situation.
• Eligible Borrowers: Zillow estimates there are around 5.4 million homeowners who could benefit from refinancing right now. That's the biggest group of potential refi candidates we've seen in four years. If you refinanced in the last few years at a higher rate, you might be one of them!

From my perspective, this heightened activity makes perfect sense. Homeowners are smart. They see an opportunity to lower their monthly payments and save money over the life of their loan, and they're pouncing on it.

What's Next? Keep an Eye on These Economic Factors

The mortgage rate market can be a bit like a weather forecast – sensitive to all sorts of signals. There are a few big economic events happening this month that could really sway where rates go next. It’s wise to be aware of them:

• March 11 Inflation Report: This is happening today! The government is releasing its latest inflation numbers. How high or low inflation is will strongly influence what the Federal Reserve decides to do with interest rates. This is a big one to watch.
• Federal Reserve Meeting (March 17–18): The Federal Reserve, often called “the Fed,” has its big meetings where they talk about interest rates. Everyone will be hanging on their words to see if they hint at cutting rates further or if they’ll keep them where they are, in the 3.50%–3.75% range. Their decisions have a ripple effect on mortgage rates.
• Geopolitical Volatility: Sadly, global events can also impact our wallets. Right now, some international tensions are causing bond yields to rise. When bond yields go up, mortgage rates often follow. This fragility in global affairs adds a bit of an upward push to rates, reminding us that the market isn't just about what’s happening at home.

Key Takeaway and What You Should Consider

So, what’s the big picture here? Mortgage refinance rates are still offering good deals, even with that slight increase in the 30-year fixed today. The massive wave of people refinancing shows how eager homeowners are to lock in lower costs, especially those who were stuck with those painful rates above 7%.

My advice? Don't wait too long to assess your situation. With inflation numbers and the Fed meeting on the horizon, rates could be a bit unpredictable. If you're thinking about refinancing, explore your options now. It might be a good time to look into rate locks. This is a way to secure a specific interest rate for a certain period, protecting you if rates were to jump up unexpectedly while your refinance process is underway. It gives you peace of mind and can save you money.

For anyone with a mortgage above 7%, now is truly the time to explore if refinancing makes sense for you. The potential savings are significant.