rewrite this title Mortgage Rates Today, Friday, June 26: A Little Lower – NerdWallet

Mortgage interest rates are lower today in the wake of the latest Personal Consumption Expenditures (PCE) price index, which showed inflation rose 4.1% year-over-year in May.

The average interest rate on a 30-year, fixed-rate mortgage ticked down to 6.26% APR, according to rates provided to NerdWallet by Zillow. This is nine basis points lower than yesterday and 12 basis points lower than a week ago. (See our chart below for more specifics.) A basis point is one one-hundredth of a percentage point.

High inflation typically puts upward pressure on mortgage rates, but markets also value predictability. Because the latest PCE report came in as expected — and some economists believe it may indicate inflation has peaked — the bond market, which influences mortgage rates, strengthened modestly, contributing to lower rates.

While the economy never sleeps, markets are closed on the weekends. The rates you see Friday are unlikely to change much (if at all) until Monday.

🤓 Kate on Rates: June 25, 2026

If you’re still holding out hope for a Fed rate cut this year… I’m sorry to be the one to break your heart. In the Federal Reserve’s June Summary of Economic Projections — the first of the Kevin Warsh era — policymakers’ updated “dot plot” indicated they expect the federal funds rate to remain elevated for the rest of 2026.

With inflation data in hand, the Nerds are looking ahead to next week’s three employment reports — the JOLTS job openings report (Tuesday), the ADP private payrolls report (Wednesday) and the Bureau of Labor Statistics’ monthly Employment Situation report (Thursday). Three labor market reports in three days should provide the clearest picture yet of whether hiring is holding up or beginning to rebound. As a wise man once said, “triples is best.”

Refinancing might make sense if today’s rates are at least 0.5 to 0.75 of a percentage point lower than your current rate (and if you plan to stay in your home long enough to break even on closing costs).

With rates where they are right now, you may want to start considering a refi if your current rate is around 6.76% or higher.

There is no universal “right” time to start shopping — what matters is whether you can comfortably afford a mortgage now at today’s rates.

Rate locks protect you from increases while your loan is processed, and with the market forever bouncing around, that peace of mind can be worth it.

In addition to market factors outside of your control, your customized quote depends on your:

Even two people with similar credit scores might get different rates, depending on their overall financial profiles.

Maybe — but even personalized rate quotes can change until you lock. That’s because lenders adjust pricing multiple times a day in response to market changes.

Add as a preferred source on Google

About the author

Abby Badach Doyle has been writing about homeownership and mortgages for NerdWallet since 2022. Her work has been featured in outlets including The Associated Press, The Washington Post and The Seattle Times. From interactive tools to practical advice, Abby is passionate about making the homebuying journey less stressful — especially for first-time buyers.

As a reporter, she is interested in writing about innovative housing solutions (like co-living) and personal stories about how homeownership builds community and a sense of belonging.

Abby is also a musician, songwriter and producer who knows the challenge of balancing creative fulfillment with financial stability. In 2024, she produced a special episode of NerdWallet’s “Smart Money” podcast on how to navigate income swings in a creative career.

Abby is based in Pittsburgh, a city defined by working-class grit and neighborly spirit. When she’s not writing about personal finance, she’s at her urban homestead: playing fiddle, raising chickens and preserving the bounty from her garden.