Rates on 30-year new purchase loans ended last week a bold 24 basis points higher than the prior Friday, landing at a 6.84% average. On Feb. 28, rates averaged just 6.55%, a low point for 2025. Compared to two months ago, when rates shot up to a 7-month high of 7.09%, today's 30-year rates are 25 basis points lower.

The average rate on a 30-year mortgage in the U.S. edged higher this week, ending a seven-week slide that helped ease borrowing costs for home shoppers just in time for the spring homebuying season.

Total mortgage application volume jumped 20.4% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.