Mortgage rates climbed higher today, March 20, 2026, following FOMC decisions and hotter inflation data. Bonds weakened post-Fed, pushing pricing up amid geopolitical risks. Loan officers advise locking rates soon, get expert guidance on today's market shifts.
Holden Kellerhals, Lending Strategist
NEXA Lending
Phone: (727) 591-5591
Email: [email protected]
NMLS# 2646551
Company NMLS# 1660690
Licensed in: FL, IA
Calculations based on 30-year fixed mortgage. PMI applies when down payment is less than 20%. Bank Statement loans are considered Non-Qualified Mortgage (Non-QM) products. Qualification is based on the review of personal or business bank statements rather than tax returns. Interest rates and down payment requirements for these products may be higher than those of conventional government-backed mortgages (such as FHA, VA, or Fannie Mae/Freddie Mac loans). Not all applicants will qualify. Annual Percentage Rate (APR) is subject to increase after consummation. Advertised terms are based on a loan amounts with a 760 FICO, Loan-to-Value, and 30-year fixed/ARM rate. Monthly payments includes principal and interest only; actual payment will be higher with taxes and insurance and HOA. This is not an offer to enter into an agreement. This is not a commitment to make a loan. Not all customers will qualify. Information, rates and programs are subject to change without prior notice. All products are subject to credit and property approval. All approvals are subject to underwriting guidelines. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. NEXA Mortgage, LLC is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. Copyright © 2025 NEXA Mortgage, LLC NMLS#1660690. AZMB#0944059. 5559 S Sossaman Rd, Bldg #1 Ste #101, Mesa, AZ 85212, 602-344-9333. NEXA Mortgage, LLC is an Equal Housing Lender. All rights reserved.
Mortgage Rates Spike After Fed Inflation Signals
March 26, 2026
Mortgage markets faced renewed pressure on Friday, March 20, 2026, as bond yields held flat post-FOMC but late weakness drove pricing higher. Hotter-than-expected wholesale inflation and a Fed outlook signaling fewer rate cuts fueled the spike. Homebuyers should stay informed amid these volatile conditions.
Bonds opened steady after yesterday's FOMC losses, but mortgage pricing rose by notable margins due to building negative momentum. Stronger jobless claims data intensified the pressure, while weak new home sales offered only minor relief. The Fed's decision to stay put amid heating inflation sent bonds tumbling, lifting rates further. MBS prices declined by 24 basis points, reinforcing the upward bias. Float/lock guidance recommends locking for 7, 15, or 30 days, with floats viable only beyond 30 days.
Weak new home sales data provided a slight counterbalance but failed to offset broader affordability challenges. With inventory levels unavailable, the market remains tight, keeping home prices elevated despite rate pressures. Inflation's persistence is squeezing buyer budgets, making affordability a key concern. Geopolitical risks add uncertainty, potentially prolonging higher borrowing costs. Overall, housing trends reflect caution amid economic crosscurrents.
Buyers may find opportunities if labor data softens tomorrow, but current momentum suggests rates remain biased higher. Sellers could benefit from sustained demand in low-inventory areas, though higher rates might temper competition. Prospective homeowners should weigh locking in now versus waiting for potential relief. Timing remains critical in this environment. Consulting a loan officer can clarify personalized strategies.
Today's market underscores the Fed's cautious stance and inflation's impact, driving mortgage rates upward. While minor relief exists from housing data, risks dominate. Staying proactive is essential for navigating these shifts.