US Mortgage Rates Edge Down

The average interest rate on 30-year fixed-rate mortgages for conforming loan balances of $806,500 or less in the US edged down by 1 basis point to 6.59% in the week ended June 19, 2026, from 6.60% in the previous week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Despite the slight decline, borrowing costs remained close to their highest levels since August last year. Meanwhile, total mortgage applications increased 1%, rebounding from a 3.8% decline in the prior week. Refinancing activity rose 3%, while applications for home purchases slipped 0.6%.

The average US 30-year fixed mortgage rate for conforming loans of $806,500 or less remained steady at 6.60% in the week ending June 12, 2026, near a nine-month high of 6.65% set in May. Mortgage rates have tracked Treasury yields, as the energy shock from the Middle East conflict led investors to abandon expectations of Federal Reserve rate cuts and instead price in a potential hike by year-end. Meanwhile, mortgage applications fell 3.8%, resuming a downward trend after a brief 10.8% surge the previous week. Refinance applications dropped 4.5%, while applications for home purchase mortgages declined 3.4%.

The average US 30-year fixed mortgage rate for conforming loans of $806,500 or less increased to 6.6% in the week ended June 5th 2026 from 6.57% in the previous period. “Mortgage rates were volatile last week as news from the Middle East continues to drive markets. While the average rate was up slightly, there were opportunities where borrowers were seeing somewhat lower rates”, according to Mike Fratantoni, MBA’s SVP. Meanwhile, mortgage applications soared 10.8%, the first rise in four weeks and the biggest since the last week of February. Applications to refinance a home loan rose 15% and applications for a mortgage to purchase a home went up 7%.