US 30-Year Mortgage Rate Dips for a 2nd Week

The average US 30-year fixed mortgage rate for loans up to $806,500 fell to 6.57% in the week ended June 26, 2026, marking the lowest level in a month and the second straight weekly decline, per the Mortgage Bankers Association. Still, mortgage rates remained high even as long-term Treasury yields fell due to lower energy prices, though hawkish FOMC outlooks limited any surge in credit market activity. Total mortgage applications held steady after a 1% gain the prior week, with purchase apps up 0.5% and refinance activity down 0.7%.

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%.