What are today's mortgage interest rates: June 16, 2026?

Mortgage interest rates have improved for both buyers and owners looking to refinance. carlofranco/Getty Images Homebuyers and owners hoping to refinance started 2026 with cautious optimism. Mortgage interest rates declined by around a full percentage point from January 2025 to January 2026, and while a Federal Reserve rate cut wasn't expected to start the year, many anticipated it would arrive later in 2026. But with the war with Iran, surging oil prices and a growing inflation rate, rates here reversed course. Under 6% as recently as mid-April, they increased by more than half a percentage point amid global and domestic market uncertainty. As attempts to end the war continue, however, market conditions have changed slightly. And that could lead to positive developments in the mortgage interest rate space, especially if the Federal Reserve indicates an openness to additional interest rate cuts in its meeting this week . To better understand the value of a home purchase or refinance, it helps to know where mortgage rates stand right now, as of June 16, 2026. That's what we'll outline below. Start by seeing how low of a mortgage rate you would be eligible for here . What are today's mortgage interest rates? The average mortgage interest rate on a 30-year mortgage is 6.37% as of June 16, 2026, according to Zillow . The median rate for a 15-year term is 5.87%. That's down significantly from last month when these rates sat at 6.62% and 6%, respectively, on May 21 . …