WASHINGTON, D.C. — Mortgage rates across the U.S. remain relatively stable heading into mid-June, with the average 30-year fixed-rate mortgage hovering around 6.84%, according to the latest data from both Freddie Mac and Optimal Blue. Despite minor fluctuations, borrowers are still facing elevated borrowing costs as markets await the next move from the Federal Reserve.
Current Mortgage Rate Snapshot (as of June 13, 2025)
- 30-year fixed conventional: 6.84%
- 15-year fixed: 5.97%
- 30-year FHA: 6.59%
- 30-year VA: 6.25%
- 5/1 ARM: 6.74%
These rates reflect only slight movement from the previous week, indicating a holding pattern as lenders and buyers await signals from the Fed’s upcoming meeting next week. Analysts widely expect the central bank to keep short-term interest rates unchanged—an outcome that has sparked frustration from President Donald Trump, who recently remarked he “may have to force something” to push rates down, though he does not intend to remove Chair Jerome Powell.
How Today’s Rates Compare
Mortgage rates remain well above their historical lows during the early 2020s, when pandemic-era stimulus drove the 30-year average down to 2.65% in January 2021. While such ultra-low rates are unlikely to return, economists say there’s room for relief if inflation continues to ease and economic growth stabilizes.
In the meantime, homebuyers are still adjusting to rates around 6.5–6.8%, far higher than they were accustomed to just a few years ago. According to Freddie Mac, one year ago today the 30-year average stood at 6.95%, meaning rates have improved slightly—though affordability remains a key challenge in many housing markets.
What Homebuyers Can Do Right Now
If you’re shopping for a mortgage or planning to refinance, here are some strategic steps to secure a competitive rate:
Maintain strong credit: Aim for a FICO score of 740+ to qualify for the best rates.
Lower your debt-to-income ratio: Lenders typically prefer a DTI below 36%.
Shop around: Compare quotes from national lenders, local banks, and credit unions. Even a 0.25% difference in rate can save thousands over the life of a loan.
Consider a buydown: Some homebuilders and lenders offer options to temporarily lower your rate in the first few years of repayment.
With mortgage rates largely holding steady near 6.8% and no Fed cuts expected next week, today’s market remains challenging—but not without opportunity. Buyers with strong financial profiles and flexibility in timing may benefit from watching for short-term dips and negotiating smartly with lenders.