New Home Sales Rise as Median Price Hits Near 5-Year Low According to Freddie Mac, the average 30-year fixed rate mortgage in March 2026 was 6.18%. While lower than recent peaks, the rate remains high enough to sustain the "lock-in effect,†where homeowners are reluctant to trade in their current low-interest mortgages for new, higher-rate loans, further suppressing available inventory. The median price for a new home dropped to its lowest level in nearly five years, coming in at $387,400. This represents a ...