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

Mortgage rates remained stable this week, with the average 30-year rate at 6.84% and the average 15-year rate at 5.97%. Traders increased the likelihood of a Fed rate cut later this year, influencing Treasury yields. Homebuyers are taking advantage of improved inventory levels, driving up purchase and refinancing applications.

Applications to purchase a home rose by 10% and refinancing applications by 16% due to better inventory levels. More than 1 million homes were active on the market in May, the highest since late 2019. Despite affordability challenges, higher inventory levels are attracting more buyers, according to MBA President and CEO Bob Broeksmit.

Read more: Mortgage rates hold steady for another week