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What's a good mortgage interest rate this June?
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TL;DR
- The average 30-year mortgage rate is 6.50% and the 15-year rate is 5.87% as of June 8, 2026.
- A 'good' rate this June is considered to be below 6.50% for a 30-year term or 5.87% for a 15-year term.
- Strategies to obtain a lower rate include improving credit score, shopping around with lenders, considering adjustable-rate mortgages, and paying mortgage interest points.
- A Federal Reserve rate cut is unlikely in the near future.
- High inflation and strong employment could lead to further rate increases.
- Borrowers are advised to consider locking in a rate now, even if it's higher than preferred, to protect against future hikes.