🏡 Mortgage & Housing Market Update – March 12, 2026
- Alisha
- Mar 13
- 2 min read
The housing market continues to shift as mortgage rates react to economic indicators. If you're thinking about buying a home, refinancing, or simply staying informed, here is the latest Mortgage & Housing Market Update for March 12, 2026.
🎥 Watch the Mortgage Market Update
You can watch the full video update below:
📊 Mortgage Rates Snapshot
According to MortgageNewsDaily.com, mortgage rates moved slightly higher today.
Current mortgage rate estimates:
• 30-Year Fixed: 6.24% (+0.15)
• 15-Year Fixed: 5.84% (+0.15)
• 7/6 SOFR ARM: 5.55% (+0.16)
• 30-Year FHA: 5.85% (+0.16)
For comparison, the Freddie Mac weekly survey reported:
• 30-Year Fixed Average: 6.00%
• 15-Year Fixed Average: 5.43%
Mortgage rates remain close to the 6% range, but markets have shown some volatility this week.
📈 Market Indicators
Several financial indicators influence mortgage rates daily.
Today's key market indicators include:
• 10-Year Treasury Yield: ~4.25%
• Mortgage-Backed Securities (UMBS 30YR 5%): 99.06 (down 26bps)
When Treasury yields rise and mortgage-backed securities decline, mortgage rates typically move slightly higher — which is exactly what we're seeing in today's market.
🏠 Example Home Affordability Scenario
Let's look at an example of estimated buying power based on typical assumptions.
Example Buyer Scenario
~ Annual Income: $120,000
~ Monthly Income: $10,000
~ Down Payment: $75,000
Estimated buying power:
🏡 Maximum Home Price: ~$678,406
💳 Estimated APR: ~7.05%
📅 Estimated Monthly Payment: Based on current rates and debt profile.
Your actual buying power will depend on several factors, including:
credit score
existing debts
property taxes
homeowners insurance
loan program
If you want to estimate your buying power, you can use our:
Home Affordability Calculator:
📚 Loan Program Highlight – Conventional Loan
A conventional mortgage loan is one of the most commonly used loan programs for homebuyers.
Typical Requirements
• Minimum Credit Score: Around 620
• Down Payment: Starting around 5%
• Debt-to-Income Ratio: Up to approximately 49%
• Closing Costs: Typically 3–5%
Key Benefit:
Mortgage insurance can be removed once you reach 20% equity, which can lower your monthly payment over time.
Example Down Payment Scenarios:
• 1-Unit Property: ~5% down possible
• 2-Unit Property: ~15% down
You can explore additional mortgage options here:
🏡 Mortgage Rates & The Housing Market
Even with rates moving slightly this week, the housing market remains active. Many buyers are still entering the market because inventory is limited and long-term homeownership continues to build wealth.
For buyers in Queens, Long Island, and the NYC area, understanding your buying power before starting your home search can make the process much smoother.
📩 Thinking About Buying or Refinancing?
If you're planning to buy a home or refinance, I can help you estimate your buying power based on your income, credit profile, and current mortgage rates.
📩 Send me a message with the word "HOME" and I’ll help you run the numbers.
LJ Realty Team
Your Local Guide to Homeownership
📍 127-03 Rockaway BlvdSouth Ozone Park, NY 11420
📞 (516) 218-1297
Buy • Sell • Rent
Equal Housing Opportunity
LJ Mortgage Team Inc.NMLS #2120286
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