What are today's mortgage interest rates: June 16, 2026?
Summary
Mortgage interest rates have decreased in June 2026 after rising earlier this year due to global events like the war with Iran and higher oil prices. As of June 16, the average rate for a 30-year mortgage is 6.37%, which is lower than last month, and refinancing rates have also fallen.Key Facts
- The average 30-year mortgage rate is 6.37% as of June 16, 2026, down from 6.62% in May.
- The 15-year mortgage rate is 5.87%, also lower than the 6% rate from last month.
- The average 30-year refinance rate is 6.70%, down from 6.87% in May.
- The 15-year refinance rate is 5.79%, reduced from 6% the previous month.
- Mortgage rates fell after earlier increases driven by the war with Iran, rising oil prices, and inflation.
- The Federal Reserve’s upcoming meeting might further influence mortgage rates, possibly leading to rate cuts.
- Borrowers are advised to shop around and consider alternative ways to secure lower mortgage rates.
- Refinancing may be cost-effective only if borrowers stay in their home long enough to recoup closing costs.
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