30-Year Mortgage Rate Rises to 6.42% as 5/1 ARM Jumps 24 Basis Points
Updated
Updated · Norada Real Estate Investments · Jun 20
30-Year Mortgage Rate Rises to 6.42% as 5/1 ARM Jumps 24 Basis Points
3 articles · Updated · Norada Real Estate Investments · Jun 20
Summary
Zillow data for June 20 showed a mixed mortgage market: the benchmark 30-year fixed rose 6 basis points to 6.42%, while the 20-year fixed fell 14 basis points to 6.14%.
The sharpest move came in the 5/1 adjustable-rate mortgage, which climbed 24 basis points to 6.70%, underscoring the unsettled rate backdrop facing borrowers.
Freddie Mac's late-June average for a 30-year fixed stood near 6.47%—below a year ago but still elevated enough to keep monthly payments and refinancing decisions under pressure.
Analysts cited sticky inflation, the Fed's pause on rate cuts, high 10-year Treasury yields and geopolitical risks as reasons rates are likely to stay in the low- to mid-6% range through 2026 and into 2027.