The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.448%, a decrease of about 3 basis points from the day before, according to data from mortgage data company Optimal Blue.
Meanwhile, the average rate for a 15-year, fixed-rate conforming mortgage loan is 5.795%, less than a full basis point of change for the same period.
Compare mortgage rates for June 17, 2026
Here’s a quick look at week-over-week rate changes.
Fortune reviewed the latest Optimal Blue data available on June 16, reflecting rates for loans locked in as of June 15.
What you’d pay in interest with where rates are at today
We ran the numbers through the mortgage calculator provided by the federal government’s Office of Financial Readiness. At the current rate of 6.448%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $378,941.61 in interest over the life of the loan.
On a 15-year mortgage with the same loan amount used for the estimate, you’d pay roughly $149,724.39 in interest over the life of the loan at the current rate of 5.795%.
Read on to see how mortgage rates have changed day by day.
30-year conventional mortgage: Down about 3 basis points
This may be the most popular mortgage type in the United States.
The current average 30-year mortgage rate is 6.448%. That’s down from 6.476% on the last day’s report.
15-year conventional mortgage: Less than a basis point of change
This type of mortgage is popular with homeowners seeking to minimize interest payments over the life of their loan.
The current average 15-year mortgage rate is 5.795%. That’s ever so slightly down from 5.800% on the last day’s report.
30-year jumbo mortgage: Down about 10 basis points
A jumbo mortgage is one that exceeds the conforming loan limits set by the Federal Housing Finance Agency. While the limit can vary in certain high-cost-of-living-areas, in most of the U.S., it’s $832,750 for 2026.
The current average rate on a 30-year jumbo loan is 6.502%. That’s down from 6.603% on the last day’s report.
30-year FHA mortgage: Down about 6 basis points
This type of mortgage is oftentimes more accessible to borrowers with slightly lower credit scores than conventional mortgages. Lenders are protected because these loans are insured by the Federal Housing Administration.
The current average rate on a 30-year FHA home loan is 6.253%. That’s down from 6.313% on the last day’s report.
30-year VA mortgage: Less than a basis point of change
These loans are, in general, available to U.S. military members and veterans and surviving spouses. One attractive feature is that they have no minimum down payment requirement, unlike most other mortgage types.
The current average rate on a 30-year VA home loan is 6.116%. That’s almost unchanged from 6.118% on the last day’s report.
30-year USDA mortgage: Down about 7 basis points
A USDA loan is meant to help low- to moderate-income borrowers purchase a home in an eligible rural area. Like VA loans, USDA loans have no minimum down payment requirement.
The current average rate on a 30-year USDA home loan is 6.162%. That’s down from 6.227% on the last day’s report.
What the Federal Reserve is doing in 2026
Market observers know that mortgage interest rates often move in tandem with the federal funds rate, which is set by the Federal Reserve (and is what banks charge each other to borrow money overnight).
When the Fed hikes its benchmark rate, mortgage rates often rise accordingly. And when the Fed decreases the federal funds rate, mortgage rates often dip.
At its last meeting April 28-29, the Federal Open Market Committee left the federal funds rate at 3.50% – 3.75%. The FOMC’s current meeting is happening now, June 16-17.
In 2020, the Fed cut its benchmark rate to effectively zero, trying to prevent a recession as the coronavirus wreaked havoc. In that environment, mortgage rates hit historical lows, bottoming out with an average rate of 2.65% in January 2021.
However, experts agree mortgage rates that low are unlikely to happen again in the foreseeable future, barring a disaster of pandemic-level proportions.
Trends with mortgage applications
Mortgage applications increased recently, according to the Mortgage Bankers Association. Specifically, applications increased 10.8% for the week ending June 5 compared to a week prior, per MBA data.
“Mortgage rates were volatile last week as news from the Middle East continues to drive markets,” Mike Fratantoni, MBA’s SVP and chief economist, said in a news release.
He added:
“Both refinance and purchase applications rebounded coming out of the Memorial Day holiday week, with refinance applications up 15 percent and purchase applications up 7 percent.”
Adjustable-rate mortgages (ARMs) increased as a share of total applications to 8.6%, according to the MBA.
Recent reporting on the housing market from Fortune
Stay informed on what’s happening with housing in the U.S. as well as trends in the economy, with reporting from the Fortune newsroom:
- A ChatGPT prompt almost killed Ryan Serhant’s $50 million NYC penthouse deal. Here’s how he saved it
- Boomers actually do hold most of the wealth and power. So why do they call it ‘whiny’ to point that out?
- Gen Z fled San Francisco for Texas and Florida. Now they’re turning ‘welcomer cities’ into the next big tech towns
- ‘The golden years are not golden’: Boomers are hoarding most of America’s wealth and power because they’re terrified of outliving their money
- This realtor is betting big on the AI IPO boom, but buying a house with stock will have to go through the OpenAI’s and Anthropic’s boards first
- BofA on the ‘fundamental disconnect’ in the housing market: You’re blaming the wrong person for why you can’t afford a home
- ‘A landmark moment for homebuying’: A San Francisco seller wants OpenAI or Anthropic stock for their $3 million home
Why you should comparison shop
It’s worth applying with multiple lenders to find which will offer the lowest rate and which seems like it can provide the service you’ll expect going forward.
On the savings front, Freddie Mac notes that when interest rates are high, homebuyers who apply with multiple lenders might save $600 to $1,200 per year compared to those who do not.
It’s also smart to shop around and consider different loan types to find the one that serves your situation the best. For example, if your credit score is nearly perfect, you might get a great deal on a conventional mortgage. But if your credit score is under 600, you might be denied for a conventional mortgage but still have a chance at approval for an FHA home loan.
Frequently asked questions
Are a mortgage’s interest rate and APR the same?
They’re related, but not the same. Your APR includes the interest you’ll pay and any fees factored in as well.
What’s a good mortgage rate in June 2026?
We’ve been seeing the average rate for a 30-year, conventional home loan hovering around 6.50% recently. If you get a rate just above 6.00%, that’s a big win.
Will mortgage rates go down?
Nothing is set in stone. Mortgage rates might go down if the Fed decides on a cut to the federal funds rate in 2026. But additional factors impacting mortgage rates include inflation, the national debt, and demand for home loans.
