Mortgage loan interest rates drop as 30-year fixed hits 6.56%

The national average mortgage loan interest rate on a 30-year fixed mortgage stands at 6.56% as of June 1, 2026, holding steady from the previous Friday. While near-term movement has stalled, housing economists project rates will gradually decline later this year, with most forecasts pointing to a range of 5.90% to 6.30% by year-end.

Current Rate Environment and Expert Outlook

Mortgage rates have remained in the mid-6% range for much of 2026. According to Bankrate, the 30-year fixed rate has held at 6.56% since late last week, while the 15-year fixed rate sits at 5.92%. Earlier in May, Freddie Mac reported the 30-year average at 6.53%, indicating relative stability in the broader market. Housing economists and industry forecasters note that the Federal Reserve has kept its policy rate unchanged in the range of 3.5% to 3.75%, maintaining a steady stance that has contained rate volatility.

Predictions for the Rest of 2026

Forecasters remain optimistic about modest rate declines later in the year. CNBC’s 2026 mortgage rate outlook predicts the 30-year fixed will average between 5.90% and 6.30% by December. Morgan Stanley strategists project rates may drop to around 5.75%, contingent on continued moderate inflation and stable economic conditions. The Mortgage Bankers Association forecasts rates will stay between 6.1% and 6.3% for 2026. However, these projections hinge on no major economic shocks or shifts in Federal Reserve policy, making them subject to change.

Sources

• Bankrate — Current 30-year and 15-year fixed rates as of June 1, 2026
• Wall Street Journal — Daily mortgage rate tracking for June 1, 2026
• Freddie Mac — 30-year fixed rate data for May 28, 2026
• CNBC Select — 2026 mortgage rate forecast and year-end projections
• Morgan Stanley — 2026 mortgage rate outlook and strategic analysis
• NerdWallet — Federal Reserve policy rate information as of April 29, 2026