From Yahoo Finance: 2025-06-18 12:07:00

Mortgage rates stayed above 6.8% for another week, with the 30-year rate at 6.81% and the 15-year rate at 5.96%. Rates have been stuck between 6.8% and 7% since April. The 10-year Treasury yield, linked to mortgage rates, fluctuated due to global tensions and retail sales worries.

Mortgage applications fell last week despite lower rates, with refinancing down 2% and home purchase applications dropping 3%. Economic uncertainty may have deterred buyers. The Federal Reserve is expected to maintain interest rates, which don’t directly impact mortgage rates, but expectations for future rate cuts influence them.

Applications declined as economic uncertainty affected homebuyer decisions. The Fed’s interest rate decision won’t likely offer mortgage relief, as rates are influenced by future rate expectations, not Fed policy. Traders anticipate a rate cut in September. Claire Boston covers housing, mortgages, and home insurance for Yahoo Finance.



Read more at Yahoo Finance: Mortgage rates are still stuck north of 6.8%