30-Year Mortgage Rate Falls to 6.37% as 15-Year Purchase Rate Drops to 5.87%
Updated
Updated · CBS New York · Jun 16
30-Year Mortgage Rate Falls to 6.37% as 15-Year Purchase Rate Drops to 5.87%
3 articles · Updated · CBS New York · Jun 16
Summary
6.37% is the average 30-year mortgage rate as of June 16, down from 6.62% on May 21, while the 15-year purchase rate eased to 5.87% from 6.0%, according to Zillow.
Refinance costs also declined: the average 30-year refi rate fell to 6.70% from 6.87%, and the 15-year refi rate slipped to 5.79% from 6.0%.
The pullback follows a spring run-up of more than half a percentage point after war with Iran, higher oil prices and rising inflation reversed the early-2026 easing trend.
Rates remain volatile and could shift again this week depending on signals from the Federal Reserve, even as current levels look improved from recent weeks.