06/12/2026
Mortgage Rate Update: June
Mortgage rates have climbed back into the mid-to-upper 6% range heading into June, continuing the upward trend that started in early spring. The average 30-year fixed rate is currently sitting around 6.68%, up from the 6% low we saw at the start of the year.
The chart tells the story clearly. Rates bottomed out around 6% earlier this year, then steadily climbed through April and May before leveling off in the 6.6% range where we are now. Ongoing concerns around the US/Iran conflict have created inflationary pressure around oil costs, and rates have felt that impact.
For buyers, preparation is still the most important factor. A well-structured preapproval and a clear financing strategy let you move quickly when the right property becomes available.
For sellers, limited inventory across New England continues to support home values. Even modest rate improvements tend to bring additional buyers into the market quickly.
For investors, if the property cash flows at today’s rates, structure the right debt that allows future flexibility for a refinance to increase cashflow when rate conditions improve.
Rates will likely remain in the mid-6% range through the summer until we see a peace treaty with Iran and oil prices come back down from recent highs. Happy to walk through what this means for your specific scenario. Just send me a DM.
