US MBA 30-year mortgage rate rises to 6.88% from previous 6.84%.

US MBA 30-year mortgage rate rises to 6.88% from previous 6.84%.

On June 19, 2025, the average 30-year mortgage rate in the United States rose to 6.88% from the previous day's 6.84% [1]. This increase follows a trend of fluctuating mortgage rates in recent weeks, with mixed pressures from economic indicators and market data.

The rise in mortgage rates is attributed to several factors, including changes in the yield on 10-year Treasury notes, which decreased to 4.322% from 4.353% [1]. Additionally, stock market indices jumped today, which typically pushes bond prices down and increases mortgage rates [1]. Oil prices decreased to $65.22 per barrel, providing a slight relief to mortgage rates [1].

The Federal Reserve's monetary policy and economic reports also influenced the mortgage rate. Cleveland Fed President Beth Hammack and Chair Jerome Powell's statements reiterated the Fed's cautious approach to rate cuts until the impact of shifting tariffs is clearer [1]. These statements may have contributed to the rise in mortgage rates.

Looking ahead, forecasts from Fannie Mae and the Mortgage Bankers Association (MBA) predict a moderate decline in the 30-year fixed mortgage rate. Fannie Mae forecasts a rate of 6.3% for Q3/25, while the MBA predicts 6.7% for the same period [1]. These forecasts are subject to the volatile nature of interest rates and the uncertain economic conditions.

In conclusion, the rise in the 30-year mortgage rate reflects the ongoing market dynamics and economic factors influencing interest rates. Borrowers should stay informed about these changes and consider their financial goals when deciding on a mortgage type.

References:
[1] https://themortgagereports.com/mortgage-rates-now/mortgage-rates-today-june-24-2025