Mortgage Rates — Mortgage refinance and purchase rates dipped slightly today, offering a modest but welcome break for U.S. homeowners and homebuyers watching the market closely.
As inflation data cools and Federal Reserve policy remains steady, borrowers are seeing early signs of improving affordability.
According to fresh data from industry sources including Zillow and the Mortgage Research Center, today’s average mortgage rates declined across most fixed and adjustable-rate loan types, with the 30-year fixed rate now sitting at 6.88% for refinances and 6.91% for new purchase loans.
While the shifts are small, they could translate into meaningful savings over the life of a loan.
Today’s Mortgage Rates – June 12, 2025
| Loan Type | Average Rate | APR | Weekly Change |
|---|---|---|---|
| 30-Year Fixed | 6.91% | 7.34% | ↓ 0.08% |
| 20-Year Fixed | 6.72% (Refi) | 6.76% | ↑ 0.43% |
| 15-Year Fixed | 5.97% | 6.25% | ↓ 0.03% |
| 5-Year ARM | 7.30% | 7.83% | Steady |
| 30-Year Jumbo | 7.19% (Refi) | 7.76% | ↓ 0.12% |
Refinance Rates Show Mixed Movement
Today’s 30-year fixed refinance rate edged slightly down to 6.88%, trimming potential monthly payments for homeowners considering locking in lower costs. However, 15-year and 20-year refinance rates ticked higher, at 5.80% and 6.72%, respectively.
Jumbo loan refinances showed more volatility:
- 30-year jumbo refinance fell to 7.19% (down 1.01%)
- 15-year jumbo refinance rose to 6.47% (up 1.21%)
These changes reflect shifting lender appetite in the high-balance loan space and subtle shifts in bond yields.
Why Are Mortgage Rates Moving Now?
A mix of economic signals is influencing today’s rates:
Inflation cooling: Recent economic data shows slowing inflation, easing pressure on long-term interest rates.
Federal Reserve watch: The Fed is holding its rate steady for now, but expectations of a cut later in 2025 are helping anchor long-term mortgage rates.
Bond market response: Yields on 10-year Treasury notes, a major driver of mortgage pricing, have declined modestly this week amid cautious investor sentiment.
What Today’s Mortgage Rate Means for You
At today’s national average:
A 30-year fixed loan at 6.91% on $300,000 = ~$1,979/month (excluding taxes & insurance)
A 15-year fixed loan at 5.97% on $300,000 = ~$2,529/month
The total interest savings on a 15-year loan can be significant, though it comes with higher monthly payments.