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Mortgage Interest Rates Forecast

The 30-year fixed rate hit 6.43% APR, but buyers press on anyway.

Taylor Getler
Johanna Arnone
Updated
Mortgage rates are climbing again as inflation hit its highest point since 2023. The average 30-year fixed rate rose six basis points to 6.43% APR for the week ending June 11, according to Zillow data provided to NerdWallet — now up nearly 30 basis points since April and more than 50 since February.
Still, buyers are showing up. The National Association of Realtors reported 4.17 million existing home sales in May — up from 4.02 million in April — with affordability improving across all regions. First-time buyers grabbed 35% of sales, up from 30% in May 2025.
» MORE: Tips for first-time home buyers

🤓 Kate On Rates: June 11, 2026

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June mortgage rates forecast

The Federal Reserve meets next week, June 16-17, but don't expect rate relief from the Fed anytime soon.
With inflation at 4.2% and the labor market still strong, a rate cut at next week's meeting is essentially off the table. Futures traders are actually betting on a 25-basis-point hike before year's end.
Home buyers remain squeezed on two fronts: Higher rates mean steeper monthly payments, while inflation drains savings earmarked for down payments. The conflict with Iran isn't helping — rising fuel costs are feeding inflation, and with a resolution up in the air, the question is less "when will rates drop?" and more "are we heading back toward 7%?"
» MORE: How the Fed affects mortgage rates

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