Mortgage rates across the U.S. saw mild shifts on Wednesday, June 11, 2025, with most trending slightly lower as financial markets prepare for next week’s Federal Reserve policy meeting. The national average for a 30-year fixed mortgage is now 6.81%, down two basis points from the previous day, according to Zillow. Meanwhile, the 15-year fixed rate also dipped to 5.99%, offering potential savings for borrowers who can handle higher monthly payments.
Federal Reserve Outlook Keeping Markets Steady
Despite mounting political pressure—including calls from President Donald Trump for a full percentage point cut—Federal Reserve Chair Jerome Powell has shown no indication that a rate cut is imminent. Futures markets broadly expect the Fed to keep the federal funds rate steady at next week’s meeting. That stance has kept mortgage rates relatively stable, with only minor day-to-day fluctuations.
Experts suggest that without a clear pivot from the Fed, mortgage rates may continue to “bounce” within a narrow range rather than falling significantly.
Current Average Mortgage Rates (June 11, 2025)
| Loan Type | Interest Rate |
|---|---|
| 30-Year Fixed | 6.81% |
| 20-Year Fixed | 6.53% |
| 15-Year Fixed | 5.99% |
| 5/1 ARM | 6.91% |
| 7/1 ARM | 7.07% |
| 30-Year VA | 6.29% |
| 15-Year VA | 5.65% |
Refinance Rates Also Trending Down
Refinance rates are generally a bit higher than purchase rates, though they too have dipped slightly. The current 30-year refinance average is 6.86%, while the 15-year refinance rate stands at 6.16%. Borrowers seeking to refinance could benefit by locking in now, especially if they secured their mortgage during the rate peak in late 2024.
What’s Next for Mortgage Rates?
Mortgage analysts say a major shift in interest rates would likely depend on broader economic signals—especially inflation data and job growth trends. The CPI report released earlier this week showed a cooler-than-expected 2.4% annual inflation rate, which might give the Fed more flexibility later in the year.
Still, most experts don’t expect mortgage rates to fall dramatically in the near term. “Unless the economy slows significantly or inflation dips well below the Fed’s target, rates may continue to hover around current levels through the summer,” said one analyst at Principal Asset Management.
Choosing the Right Mortgage Term
Borrowers have a tough choice between affordability and long-term savings:
- A 30-year fixed mortgage provides lower monthly payments and rate stability but results in more interest paid over time.
- A 15-year fixed mortgage offers a lower rate and substantial long-term savings, though monthly payments are higher.
Those looking for flexibility may consider ARMs, although they come with risk as rates reset in the future.
With the average 30-year fixed mortgage rate now at 6.81% and 15-year rates dipping below 6%, today’s rate environment may offer opportunities for well-prepared borrowers—particularly those with strong credit profiles. As the Fed holds steady and inflation remains in check, mortgage rates are likely to stay in a stable but elevated range.