US EditionJune Mortgage Outlook: Rates Could Keep Rising
- Since mid-April 2025, the average rate for a 30-year fixed mortgage has stayed above 6.75%, reaching approximately 6.8% nationwide between April and May.
- Mortgage rates began rising in April following the introduction of increased tariffs, adding to the uncertainty as the Federal Reserve holds a wait-and-see approach amid mixed economic signals.
- Home price growth slowed to 4% year-over-year from Q1 2024 to Q1 2025, with prices falling in 11 markets including parts of Florida, Texas, Louisiana, and California.
- Fannie Mae and the Mortgage Bankers Association project that mortgage rates will average between 6.5% and 6.7% from April to June, but this outlook depends on a notable decrease in rates during June; both groups also anticipate mortgage rates to decline throughout 2026.
- High mortgage rates reduce affordability and demand in key states like Florida and Texas, while restricted supply supports prices and sellers adjust prices as homes linger unsold.
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June Mortgage Outlook: Rates Could Keep Rising
Mortgage rates may keep climbing in June, continuing an unsteady upward march that began after higher tariffs were announced in April.Whether or not the tariffs remain in place pending judicial appeals, they affected interest rates in April and May. The…
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