Average long-term US mortgage rates declined significantly on a year-over-year basis as of Monday, June 29, 2026, offering slight relief to prospective homebuyers despite persistent inflationary pressures and a recent week-over-week uptick.
Data from Freddie Mac's Primary Mortgage Market Survey showed the 30-year fixed mortgage rate settled at 6.49 percent, a decrease from the 6.77 percent recorded during the same period in 2025.
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However, the figures indicate short-term stagnation, with the 30-year rate ticking up by 2 basis points from 6.47 percent over the prior week, hovering near the 6.5 percent threshold for six consecutive weeks.
Concurrently, daily market tracking from the Zillow lender marketplace noted that the 30-year fixed-rate purchase loan fell 13 basis points to 6.17 percent, which sat 9 basis points lower than the corresponding 30-year refinance rate of 6.26 percent.
Additional daily Zillow figures placed the 15-year fixed purchase rate at 5.75 percent, down 5 basis points, while the 5/1 ARM purchase dropped 22 basis points to 6.09 percent.
Economic uncertainties, including an energy crunch stemming from conflict in Iran, have sustained inflation, prompting the Federal Reserve under new Chair Kevin Warsh to maintain its benchmark interest rate between 3.5 percent and 3.75 percent.
The elevated rate environment has impacted consumer behavior, driving an uptick in refinancing among those who bought homes at peak rates, while overall new single-family home sales fell 7.3 percent in May.
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