The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.526%, almost unchanged 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 5.922%, up about 5 basis points for the same period.
Rates current as of June 12, 2026. Fortune publishes a daily refi rates post each weekday that data is available.
Compare mortgage rates for June 12, 2026
Here’s a quick look at week-over-week rate changes.
Fortune reviewed the latest Optimal Blue data available on June 11, reflecting rates for loans locked in as of June 10.
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What you’d pay in interest with where rates are at on June 12, 2026
We ran the numbers through the mortgage calculator provided by the federal government’s Office of Financial Readiness. At the current rate of 6.526%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $384,478.62 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 $153,409.83 in interest over the life of the loan at the current rate of 5.922%.
Read on to see how mortgage rates have changed from one day to the next.
30-year conventional mortgage: Less than a basis point of change
This may be the most popular mortgage type in the United States.
The current average 30-year mortgage rate is 6.526%. That’s barely down from 6.528% on the last day’s report.
15-year conventional mortgage: Up about 5 basis points
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 5.922%. That’s up from 5.867% on the last day’s report.
30-year jumbo mortgage: Up about 1 basis point
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 6.608%. That’s up from 6.599% on the last day’s report.
30-year FHA mortgage: Up about 3 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 6.312%. That’s up from 6.284% 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 6.129%. That’s barely up from 6.131% on the last day’s report.
30-year USDA mortgage: Up about 4 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 6.248%. That’s up from 6.214% on the last day’s report.
What the Federal Reserve is doing in 2026
Savvy watchers of the market keep a close eye on the Federal Reserve for good reason. For one thing, when the Fed raises or cuts its benchmark federal funds rate, financial institutions often change rates on consumer financial products (like mortgages) accordingly.
The federal funds rate is what banks charge each other to borrow money overnight. At its most recent meeting April 28-29, the Fed left that rate at 3.50% – 3.75%. There’s another meeting of the Federal Open Market Committee (FOMC) set for June 16-17.
During the havoc caused by the coronavirus pandemic, the Fed slashed its benchmark rate to effectively zero in 2020, trying to head off a recession. In January 2021, mortgage rates hit a shocking low average of 2.65%. However, barring another global catastrophe, experts do not expect to see mortgage rates that low again.
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
If you’re looking to stay informed as you navigate the housing market and the broader economy, Fortune’s reporting empowers you to do so. See recent pieces:
- ‘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
- Buffett says Abel ‘has launched’ with his first big Berkshire deal: an $8.5 billion housing bet
- This home-builder dropped out of high school and worked construction for $8 an hour—by 22, he was making $200K from his trade empire
- Pandemic relief funds accidentally broke the housing market by helping scammers inflate local home prices nearly 6%, study finds
Why you should comparison shop
In an environment where rates are high, applying with multiple lenders might save you anywhere from $600 to $1,200 annually, according to Freddie Mac.
Keep in mind when comparison shopping for a mortgage you want to evaluate two different angles. The first is selecting a lender that can offer you a competitive rate and that will provide service aligning with your needs.
And the second is comparing different loan types. For example, you might find you can get an excellent deal on a conventional mortgage if you have near-perfect credit. But if your credit score is sub-600, you might get denied for a conventional mortgage while having more chance of approval for an FHA loan.
Frequently asked questions
Are a mortgage’s interest rate and APR the same?
No, your APR will typically be a higher number than your interest rate, as APR factors in both the interest plus any applicable fees on your loan.
What’s a good mortgage rate in June 2026?
We’ve seen the average rate on a 30-year conventional mortgage hovering in the vicinity of 6.50% recently. So, landing a rate on your mortgage just above 6.00% is probably a solid win.
Will mortgage rates go down?
There’s potential but no certainty for rates to go down. If the Fed cuts the federal funds rate in 2026, lenders might decrease mortgage rates accordingly. But other factors that impact mortgage rates include the demand for mortgages, inflation, and the national debt.