Higher March Hiring Now Limits 30-Year Mortgage Rates' Descent

The national average for a 30-year fixed-rate mortgage is 6.41%. This rate remains relatively high because stubborn inflation has kept the Federal Reserve from lowering its benchmark rate throughout 2026. Higher-than-expected hiring in March, which added 178,000 new jobs to the economy, increases the likelihood that the Federal Reserve will hold rates steady at its next meeting.