Mortgage Rates Edge Upward | Today, June 1, 2026

Today’s mortgage rates

Mortgage rate pressure looks a bit higher Monday after the 10-year Treasury yield came in at 4.453%, up 1.6 basis points from 4.437%, while Freddie Mac’s latest average for a 30-year fixed loan came in at 6.53%. That points to a modest upward bias for borrowers shopping rates today.

Oil jumped to $90.32 a barrel, up $2.56, while gold fell $39.20 to $4,530.70 and the major stock indexes were flat; CNN’s Fear & Greed Index still came in at 59.2, down slightly from 60.2. That mix suggests markets aren’t in panic mode, but the move higher in yields could still keep mortgage pricing under mild pressure.

The next test comes at 10 a.m. ET with the ISM Manufacturing Index, followed by Wednesday’s MBA applications data, Factory Orders, ISM Services Index and the EIA petroleum report. If those reports push bond yields higher, borrowers could see lenders edge rates up rather than down.

Although rates have elevated from recent lows, see if refinancing makes sense or tapping home equity is prudent. For home buyers, explore expert advice for 2026 and check if you qualify for financial assistance programs or more flexible loan options.

Current mortgage and refinance rates

>Related: 7 Tips to get the best refinance rate

30-year fixed rate mortgage

At the time this was published, the average 30-year fixed mortgage rate reached 6.562%.

The average 30-year fixed rate mortgage (FRM) hit a record weekly low of 2.65% on Jan. 7, 2021, and a record weekly high of 8.89% on Dec. 16, 1994, according to Freddie Mac.

A 30-year FRM gives borrowers an affordable option but you pay more interest over the life of the loan compared to shorter mortgages.

15-year fixed rate mortgage

Today, the average 15-year fixed mortgage rate went to 5.922%.

The average 15-year FRM hit a record weekly low of 2.1% on July 29, 2021, and a record weekly high of 18.63% on Sep. 10, 1981, according to Freddie Mac.

The 15-year FRM offers borrowers a briefer term with less accrued interest, but the monthly payments will be much higher.

5/1 adjustable-rate mortgage

This morning’s 5/1 adjustable rate mortgage averaged 5.778%.

Adjustable-rate mortgages (ARMs) typically have lower initial interest rates compared to fixed loans. Once that initial period ends, the interest rate adjusts to the current market conditions. In this case, the initial period is five years and the adjustments are up to once every year. Homeowners with shorter term lending plans tend to see these as advantageous.

What experts are expecting

Ralph DiBugnara, president at Home Qualified

“I expect rates to stay in a relatively similar range as where they ended in March, likely hovering in the low-to-mid 6% range. Current global uncertainty and inflation data will keep volatility in play. Also any rate cuts at all by the Fed may be in jeopardy now so that will keep markets frozen some. Unless we get a clear cooling signal from the Fed, don’t expect a drop. The 30-year fixed should average around 6.25% with the 15 year fixed at 5.875%“

Market data affecting today’s mortgage rates

Here’s a snapshot of the state of play as this article was published. The data mostly compares to roughly the same time the business day before, so much of the movement will often have happened in the previous session.

• The yield on 10-year Treasury notes increased to 4.453% from 4.437% (Bad for mortgage rates). Mortgage rates often follow these Treasury bond yields.
• Major stock indexes were mixed this morning. (Mixed for mortgage rates.) When investors sell shares and move into bonds, bond purchases can push prices up and yields down, potentially easing mortgage rates.
• Oil prices increased to $90.32 from $87.76 a barrel. (Bad for mortgage rates.*)
• Gold prices decreased to $4,530.7 from $4,569.90 an ounce. (Bad for mortgage rates.*)
• CNN Business Fear & Greed Index decreased to 59.2 from 60.2 out of 100. (Good for mortgage rates.) “Greed” suggests investors are seeking safety, supporting bond prices.

*A movement of less than $20 on gold prices or 40 cents on oil prices is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.

Caveats about markets and rates

Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. But that’s no longer the case. We still make daily calls. And are usually right. But our record for accuracy won’t achieve its former high levels until things settle down.

So, use markets only as a rough guide. Because they have to be exceptionally strong or weak for us to rely on them. But, with that caveat, mortgage rates today might nudge upward or barely budge. However, be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.

What’s driving mortgage rates today?

This week

This week starts with one market signal mortgage borrowers usually feel pretty quickly: bond yields moved up before the calendar got busy. The 10-year Treasury yield was at 4.453% early Monday, up from 4.437%, while WTI crude oil climbed to $90.32 a barrel from $87.76, according to Yahoo Finance. Gold fell to $4,530.7 an ounce from $4,569.9, stocks were little changed and CNN’s Fear & Greed Index slipped to 59.2 from 60.2, still in greed territory. That mix points to modest upward pressure on mortgage rates today, especially with lenders waiting on several market-moving reports over the next three days. Freddie Mac’s weekly survey last showed the average 30-year fixed-rate mortgage at 6.53%.

Monday’s key release is the ISM Manufacturing Index at 10:00 a.m. ET. This is the first high-impact report of the week and a read on factory activity, orders and price pressures. If manufacturing comes in stronger than expected, investors could push Treasury yields higher on the view that economic growth is holding up and inflation risks have not gone away. A softer number could do the opposite and give mortgage rates some room to ease later in the day.

Tuesday is lighter on data, with Cleveland Fed President Beth Hammack scheduled to speak at 8:30 a.m. ET. Fed commentary matters when markets are trying to judge how long rates may stay elevated. That is especially true this week, with political pressure on central bank independence back in the headlines after reports tied to former Fed Chair Jerome Powell’s warning against politicizing monetary policy. Even without a policy meeting on the schedule, remarks that touch inflation, labor conditions or the rate path can move bonds.

Wednesday is the busiest day. MBA mortgage applications are out at 7:00 a.m. ET and offer an early look at how borrowers responded to recent rate moves. Then at 10:00 a.m. ET, markets get Factory Orders and the ISM Services Index, both high-impact releases. Services carries extra weight because it covers the biggest part of the U.S. economy and can shift expectations for inflation and growth. At 10:30 a.m. ET, the EIA Petroleum Status Report will matter more than usual because oil is already rising; another bullish energy signal could feed inflation worries and keep pressure on bond yields.

For borrowers, the basic setup is straightforward: rates are entering the week with a small upward bias, but the direction can still change quickly if the data cools growth or inflation expectations. Monday’s manufacturing report will set the tone, and Wednesday has enough on the calendar to move mortgage pricing in either direction.

Recent trends

Freddie Mac’s June 1 report put the weekly 30-year fixed mortgage rate average at 6.53%. Freddie’s data serves as a market barometer and trend tracker, but individual rates vary by lender and depend on personal financial profiles.

Expert forecasts for mortgage rates

Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.

Here are their quarterly rate forecasts for the next year.

The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie updated its forecast on March 10 and the MBA updated theirs on March 23.

Of course, given so many unknowables, these forecasts might be even more speculative than usual. And their past record for accuracy — due to the volatile nature of interest rates — hasn’t been wildly impressive.

Mortgage rate methodology

The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.

Current mortgage rates methodology

We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.