30-Year Fixed Refinance Rate Holds at 6.58% on June 15
Updated
Updated · Fortune · Jun 16
30-Year Fixed Refinance Rate Holds at 6.58% on June 15
3 articles · Updated · Fortune · Jun 16
Summary
Zillow data reviewed by Fortune put the average 30-year fixed refinance rate at 6.58% as of June 15, 2026.
Mortgage rates have stayed elevated near 7% despite Fed cuts that began in late 2024, though they eased in late 2025 before ticking up again in March 2026.
Redfin said 82.8% of mortgaged homeowners had rates below 6% in the third quarter of 2024, leaving many locked in and reluctant to refinance at current levels.
Refinancing still can make sense if a borrower cuts their rate by about 1 percentage point, changes loan terms, or taps equity, but closing costs typically run 2% to 6% of the loan amount.