WASHINGTON — The average rate on the 30-year fixed mortgage climbed to 6.22% for the week ending March 19, 2026, according to Freddie Mac’s Primary Mortgage Market Survey released Thursday. The increase of 11 basis points from the prior week’s 6.11% marks the second consecutive weekly rise, pushing rates back toward levels seen earlier in the year while remaining below the 6.67% average from the same period in 2025.

Freddie Mac’s weekly benchmark, based on applications from conforming loans, showed the 15-year fixed-rate mortgage averaging 5.54%, up 4 basis points from 5.50% last week. A year ago, the 15-year averaged 5.83%. The modest uptick follows a period of relative stability in the low-6% range, with rates dipping below 6% in late February before rebounding.

The rise aligns with broader market movements. The 10-year Treasury yield, a key influence on mortgage pricing, has fluctuated amid persistent inflation concerns and Federal Reserve signals of caution on further rate cuts. The Fed held its benchmark federal funds rate steady in recent meetings, emphasizing data-dependent decisions. Higher energy costs and geopolitical tensions have added upward pressure on yields, indirectly lifting mortgage rates.

Daily surveys from other sources showed variation. Bankrate reported a national average 30-year fixed rate of 6.32% as of March 20, with a refinance average of 6.60%. Mortgage News Daily’s index pegged the 30-year at 6.43% on March 19, reflecting lender-specific pricing. Zillow data from mid-March cited averages around 6.12% for purchases and higher for refinances, illustrating how rates can differ by lender, credit profile and location.

For borrowers, the current environment means monthly payments on a typical $400,000 loan at 6.22% would total about $2,450 in principal and interest, compared to roughly $2,430 at 6.11%. The difference equates to roughly $20 more per month, or $7,200 over the loan’s life. Shorter-term 15-year loans at 5.54% offer lower overall interest but higher monthly payments — around $3,270 on the same amount — appealing to those prioritizing faster equity buildup.

Refinancing activity remains subdued. Many homeowners locked in rates below 4% during the pandemic-era lows and see little incentive to refinance at current levels. The refinance share of applications has hovered low, though experts note that even modest drops could spur activity among those with rates in the high-6% to 7% range.

Housing market implications are mixed. Purchase applications have shown improvement in recent weeks, with existing-home sales edging up in February per some reports. Freddie Mac Chief Economist Sam Khater noted that rates near 6% position buyers for a more affordable spring season compared to last year. Lower rates year-over-year have helped pending sales and applications trend positively despite the recent uptick.

Forecasts for the remainder of 2026 vary but generally point to stability or gradual easing. Fannie Mae’s earlier outlook projected rates ending 2026 around 5.9%, with averages in the mid-6% range through much of the year. The Mortgage Bankers Association and National Association of Realtors anticipate similar trajectories, with potential for sub-6% averages if inflation cools and the Fed resumes measured cuts. However, sticky inflation or stronger economic data could keep rates elevated.

Experts caution that mortgage rates don’t move in lockstep with Fed actions. They track long-term bond yields more closely, influenced by investor expectations for growth, inflation and global events. Recent weeks illustrated this: rates rose despite no Fed hike, driven by Treasury market dynamics.

For prospective buyers and refinancers, shopping multiple lenders remains key. Rates can vary by 0.25% or more depending on credit score, down payment, debt-to-income ratio and lender competition. Points — upfront fees to buy down the rate — can also lower effective costs for those planning long-term stays.

As spring homebuying ramps up, affordability challenges persist in many markets due to elevated home prices and rates above historical norms. The long-term average 30-year rate since the 1970s exceeds 7%, but recent years’ volatility has kept buyers cautious.

Industry watchers monitor upcoming data releases, including inflation reports and employment figures, for clues on the next move. If yields stabilize or decline, rates could ease back toward the low-6% territory seen earlier in March. Conversely, renewed inflationary pressures could push them higher.

For now, at 6.22%, the 30-year fixed remains competitive relative to recent history while signaling ongoing caution in the borrowing environment. Borrowers are advised to lock rates when offers align with budgets, as daily fluctuations can alter costs significantly.

It comes despite like-for-like sales rising by five per cent at the pub chain, surpassing the industry trend

Shares in UK pub chain JD Wetherspoon have plummeted after profits failed to meet expectations, even following a downgrade. The company reported a 32 per cent drop in pre-tax profit to £22m for the first half of this year, and an 18 per cent decrease in operating profit to £53m, falling short of analyst predictions of an eight per cent decline to £60m.

The shares dropped 10 per cent at Friday’s opening, to 555p, marking a 25 per cent decrease so far this year.

This comes despite like-for-like sales rising by five per cent, surpassing the industry trend, which experienced a 0.2 per cent dip in sales in February as the hospitality sector grappled with high costs and inclement weather.

Chairman Tim Martin, who is based in Devon, said increases to national insurance and minimum wage will cost £60m annually, along with an additional £7m in energy costs, as pubs prepare for bill increases due to the Iran war, as reported by City AM.

He said: “These cost increases will undoubtedly add to underlying inflation in the UK economy, although Wetherspoon, as always, will endeavour to keep price increases to a minimum.

“There is clearly considerable pressure on consumer finances, combined with higher taxes, wages and energy costs for the hospitality industry.”

Wetherspoon’s revenue increased by 5.7 per cent to £1bn and the interim dividend remained steady at 4p per share.

The pub chain downgraded its forecasts earlier this year – citing £45m in extra costs, though this figure now appears to have risen.

Martin cautioned last week that elevated energy costs resulting from the Iran conflict are likely to affect pubs, telling The Telegraph that higher bills “make customers poorer and also push up the cost for suppliers”.

Increasing energy prices are anticipated to impact pubs when they renegotiate their contracts with suppliers, though Wetherspoon is secured on a fixed-price contract until 2029 – considerably longer than its rivals.

Small and independent pubs, particularly those operating off-grid or dependent on oil for heating their premises, are especially exposed to rising oil prices stemming from supply disruptions in the Middle East, according to trade body UKHospitality.

Recent concerns surrounding energy bills compound a raft of cost pressures which landlords say are creating near-impossible conditions for pubs.

Pub operators described a £300m emergency business rates package – announced following widespread backlash against reforms to the tax – as merely a “sticking plaster”, whilst hospitality firms have sounded the alarm over escalating employment costs.

DUBAI, United Arab Emirates (AP) — Dubai International Airport (DXB), the world’s busiest international hub, remains open and operational on Friday, March 20, 2026, but continues to function under severe limitations due to a series of regional airspace restrictions, security incidents and geopolitical tensions that began in late February. Real-time flight tracking shows dozens of departures and arrivals scheduled throughout the day, primarily operated by Emirates and flydubai, as foreign carriers face indefinite bans or extended suspensions.

The official Dubai Airports website and flight status pages confirm active operations at DXB. As of early March 20 (local time), departures include Emirates flights to London Heathrow (EK 031 at 11:15 a.m.), Riyadh (EK 815 at 11:20 a.m.) and multiple flydubai services to Kabul (FZ 307 at 11:35 a.m.), Multan (FZ 339 at 11:40 a.m.) and Faisalabad (FZ 355 at 11:40 a.m.). Statuses range from “Gate Closed” and “Boarding” to ongoing processing, with no widespread cancellations listed for the day. Arrivals tracking similarly shows incoming flights from various origins, though volumes remain far below pre-crisis norms.

Dubai Airports’ passenger advisory, last updated in recent days, states: “Dubai Airports confirms the gradual resumption of some flights to and from Dubai International (DXB) to selected destinations, following the temporary suspension implemented as a precautionary measure. Passengers are advised to check with their airlines for the latest updates regarding their flights.” The site emphasizes that schedules continue to adjust as airlines reposition aircraft and rebalance networks.

The current restricted status stems from a chain of events starting late February 2026, when escalating conflict involving Iran, Israel and regional actors triggered multiple airspace closures across West Asia. A significant drone-related incident on March 16 near DXB’s fuel facilities caused a fire, prompting a full temporary suspension of operations as a safety precaution. Dubai Media Office and authorities described it as precautionary, with no major structural damage reported to terminals.

Following the March 16 event, operations partially resumed later that day and into March 17, when the UAE’s General Civil Aviation Authority (GCAA) announced air traffic had returned to normal across national airspace. However, recovery has been uneven. Foreign airlines, including major carriers from Europe, Asia and North America, received notices banning landings at DXB and Al Maktoum International (DWC) “until further notice.” Only UAE-based operators Emirates and flydubai hold permissions for regular service.

Airline advisories reflect this reality. Emirates has gradually expanded its schedule, aiming for fuller operations in coming weeks, while flydubai maintains a limited but growing network. International carriers like Air France, KLM, Lufthansa, British Airways, Cathay Pacific and Singapore Airlines extended suspensions through late March or beyond. India’s IndiGo canceled dozens of flights in mid-March due to restrictions, and Air India operated backlog-clearing services on select days. Over 11,000 global flights have faced disruption since late February, with rerouting adding hours to journeys and stranding passengers.

DXB’s CEO Paul Griffiths noted in mid-March interviews that the airport had facilitated over a million passenger journeys in the prior weeks despite challenges, operating at 40-45% of normal traffic. Real-time monitoring and rapid threat response have enabled partial recovery, but full restoration depends on stabilized regional airspace.

Travelers face ongoing advice: Do not proceed to the airport without confirmed bookings, as walk-ins are turned away and schedules change dynamically. Check airline apps, websites or the official DXB flight status page for real-time updates. Passengers with affected flights may qualify for rebooking, refunds or waivers under airline policies and international regulations.

The situation highlights DXB’s vulnerability as a global transit node. Normally handling over 1,200 daily movements and serving 90+ million passengers annually, the hub has seen volumes plummet during peaks of disruption. Al Maktoum International (DWC) has absorbed some overflow but shows minimal or no flights on certain days.

Authorities continue monitoring the region closely, with GCAA emphasizing safety as the priority. No new major incidents were reported overnight into March 20, and flight information pages show steady, albeit reduced, activity.

For those planning travel through Dubai today or in coming days, the message is clear: DXB is open but far from normal. Confirm flights directly with carriers, allow extra time for security and potential delays, and monitor official sources like dubaiairports.ae for alerts.

As the crisis enters its third week, aviation experts predict gradual normalization if tensions ease, but prolonged restrictions could reshape Middle East routing for months. Travelers are urged to stay informed and flexible amid this fluid environment.

Combined Authority funding to back next stage of scheme at Prescot Shopping Centre

The first phase of demolition of a Merseyside shopping centre is complete with hopes its redevelopment will bring “new confidence” to the town. In 2022, Knowsley Council completed the £1.3m purchase of Prescot Shopping Centre.

It was revealed in September last year how the “outdated and underused” areas of the site were being demolished while the former Stephenson Print building has already been flattened. These works form part of a wider regeneration scheme for Prescot as Knowsley Council aims to “revitalise” the area.

Now more than half a million pounds of Liverpool City Region Combined Authority funding is being used to enable the next stage of the scheme. This could include further demolition work to make the site more financially sustainable.

Work began in the old Somerfield supermarket to make it ready for future development last September. Cabinet members endorsed a proposal to accept £600,000 from the city region’s regeneration capacity building fund to draw up plans for a reimagined shopping centre site.

Cllr Tony Brennan, cabinet member for regeneration and economic development, said the funding would take the council’s ambitions for Prescot Shopping Centre to the next stage. He added how the authority’s decision to buy the centre had been “bold” after “years of private ownership and under investment.”

Cllr Brennan said the first phase of demolition of the site had been completed alongside urgent maintenance and repair works. He said the redevelopment of the centre would bring a “new confidence” to Prescot.

The cabinet member said in its previous state, the centre did not meet the expectations of residents and business and was not deemed “financially viable to maintain.” Further consultation will now move forward with a view to progression towards a formal planning application.

As part of this, the centre will include a new library, museum and cultural offer, alongside an increased capacity in the car park. Members also accepted a major cash injection from the government’s housing agency to transform Huyton Village.

Cllr Brennan said the acceptance of £19m from Homes England for the redevelopment of Cavendish Walks in the heart of the town centre was a “landmark moment for Huyton’s future.” Demolition of existing sites including a multi-storey car park and relocation of the town’s library is also proposed.

As part of the project, the council owned land will be renamed ‘St Michael’s Place’, in recognition of the nearby St Michael’s Church landmark and the wider history of the area. A high point was reached for the scheme when Homes England approved a bid for £19m through the Brownfield Infrastructure and Land (BIL) Fund.

This funding will unlock the regeneration site by enabling essential demolition works, ground works, infrastructure installation, and redevelopment of 6–8 Cavendish Walks into a new library and community hub, alongside delivery of the Village Green.

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