Mortgage Interest Rates Forecast

Kate Wood
By Kate Wood 
Updated
Edited by Johanna Arnone

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Mortgage rates this week

Fixed mortgage rates continued to ease downward the week ending June 20, as no news was good news for mortgage lenders.

  • The 30-year fixed-rate mortgage averaged 6.76% APR, down eight basis points from the previous week's average, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.

  • The 15-year fixed-rate mortgage averaged 6% APR, down 11 basis points from the previous week's average.

  • The 5-year adjustable-rate mortgage averaged 7.78% APR, up five basis points from the previous week's average.

Without any decisive economic news or market moves, mortgage interest rates for fixed-rate loans drifted lower this week. Should this trend continue, 30-year mortgage rates below 7% could heat up this summer's housing market. Prospective home buyers have been grateful for any help they can get as home prices remain frustratingly high, so even slightly lower rates could convince some buyers to start — or resume — a house hunt.

Mortgage loans from our partners

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Prosperity Home Mortgage - PURCHASE logo
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on Prosperity Home Mortgage

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4.0

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Tomo - PURCHASE logo

4.0

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3%

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Mortgage loans from our partners

Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

Rocket Mortgage

5.0

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 
3.5%

Check Rate

on Rocket Mortgage

Better - PURCHASE logo
Check Rate

on Better

Better

4.5

NerdWallet rating 
Better - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on Better

NBKC - PURCHASE logo
Check Rate

on NBKC

NBKC

4.5

NerdWallet rating 
NBKC - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on NBKC