Here's how mortgage rates changed in 2026 (and what could happen this June)
Summary
Mortgage interest rates in 2026 have gone up and down a lot. After starting the year near 6%, rates have fluctuated due to factors like inflation, global conflicts, and Federal Reserve decisions, reaching around 6.5% by May.Key Facts
- At the start of 2026, the average 30-year mortgage rate was about 5.99%.
- Rates dropped slightly through February and early March, reaching about 5.75%.
- A conflict in Iran, higher oil prices, and rising inflation caused rates to rise to over 6.3% by the end of March.
- April saw some rate drops, but they rose again by the end of the month due to the Federal Reserve keeping rates steady amid inflation.
- By mid to late May, the 30-year mortgage rate climbed to roughly 6.5%.
- These rates are still better than many mortgage rates offered in 2023 and 2024.
- Borrowers can use mortgage rate locks to secure current rates and protect against future increases.
- The Federal Reserve did not raise rates in 2026 so far, but inflation and unresolved global issues continue to influence mortgage rates.
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