Mortgage rates fall to 6.3% today, dropping 0.14% in a week

Mortgage loan rates on the 30-year fixed rate mortgage have declined to around 6.3% on Monday, June 1, 2026, pulling back from 6.51% to 6.53% in the previous week. The downward shift reflects recent weakness in long-term Treasury yields and comes as borrowers continue to face elevated borrowing costs compared to historical averages.

Where Rates Stand This Week

Multiple lenders reported 30-year fixed rates around 6.28% to 6.31% on June 1, marking a notable pullback from the prior week’s levels. Freddie Mac, the mortgage industry’s primary benchmark source, showed the 30-year fixed rate at 6.53% as of May 28, 2026, up slightly from 6.51% on May 21. However, by Monday afternoon, rates had dropped significantly across the market. NerdWallet reported the 30-year fixed at 6.31% APR on June 1, while Yahoo Finance showed 6.28% for the same day. The 15-year fixed rate, which typically runs lower, came in around 5.80% to 5.87% depending on lender.

What’s Driving the Shift

Mortgage rate loan products track movements in the 10-year Treasury yield, which declined early in the week. The Treasury yield dipped to 4.453% as of Monday afternoon, signaling investor appetite for safer assets. Mortgage lenders adjust their rate offerings in response to changes in the bond market, so improvements in Treasury pricing can translate into slightly lower rates for borrowers. Relative to a year ago—when 30-year rates averaged 6.89%—current levels remain elevated, but the week’s decline offers some relief to those shopping for home loans or refinancing existing mortgages.

Sources

• Freddie Mac — Official weekly mortgage rate survey, May 28 and May 21 data
• NerdWallet — Real-time rate tracking for June 1, 2026
• Yahoo Finance — Daily mortgage rate quotes for June 1, 2026
• Bloomberg — Freddie Mac weekly rate report, May 28 release