Weekly Market Update – March 28, 2026

By Secure Choice Lending · March 28, 2026 · 4 min read

Mortgage rates continued their gradual decline this week as the Federal Reserve held rates steady, signaling a more accommodative stance heading into Q2. The 30-year fixed rate dipped to 6.48%, the lowest level since October 2025. Buyer demand is picking up across Southern California markets.

It was a notable week for mortgage markets. The Federal Reserve concluded its March policy meeting with no change to the federal funds rate, reaffirming its target range of 4.25%–4.50%. Chair Powell's press conference struck a cautious but measured tone, acknowledging progress on inflation while signaling patience before any rate cuts.

Rates This Week

30-Year Fixed

6.48%

15-Year Fixed

5.91%

5/1 ARM

6.12%

FHA 30-Year

6.09%

VA 30-Year

5.87%

The 30-year fixed rate fell 9 basis points week-over-week to 6.48%, the lowest level since October 2025. Lower Treasury yields — driven partly by safe-haven demand amid global economic uncertainty — provided the catalyst for this week's improvement.

Southern California Market Activity

Purchase applications in the Inland Empire rose 7% week-over-week, outpacing the national average increase of 3%. Riverside County inventory ticked up slightly, with active listings at 2,340 — still tight by historical standards, but representing a 15% increase year-over-year.

Key Insight: The month of March has historically seen a significant jump in purchase application volume as buyers get serious ahead of the spring season. This year is tracking above the 5-year average.

What This Means for Buyers

With rates continuing to ease and inventory gradually rising, buyers who have been sitting on the sidelines may find the spring 2026 market more favorable than the past two years. While rates remain elevated compared to the historic lows of 2020–2021, affordability is slowly improving.

• A 30-year fixed at 6.48% vs. 6.90% from six months ago saves roughly $80/month on a $400,000 loan.
• More inventory gives buyers better negotiating leverage on price and concessions.
• Seller-paid rate buydowns are increasingly common — ask your agent to negotiate these.
• Getting pre-approved now puts you in a strong position as competition builds this spring.

Looking Ahead

Next week's key economic data includes the PCE Price Index (the Fed's preferred inflation gauge), ISM Manufacturing PMI, and the March Jobs Report. Strong inflation data or a blowout jobs number could push rates higher, while softer readings may extend this week's rally. We'll have a full analysis in next week's update.

Explore Your Mortgage Options

Contact Secure Choice Lending to discuss current mortgage options and your home financing goals.