Today’s Mortgage Rates – June 9, 2025: Marginal Dip in Rates Across the Board

As of June 9, 2025, national mortgage rates have shown slight movement, with the average 30-year fixed mortgage rate decreasing to 7.00%, down from 7.03% last week. Additionally, the 15-year fixed mortgage rate has seen a minor decline to 6.11% from 6.14%. This information is crucial for anyone considering buying a home or refinancing an existing mortgage, as understanding current rates can significantly impact monthly payments and overall home affordability.

Today’s Mortgage Rates – June 9, 2025: Marginal Dip in Rates Across the Board

Key Takeaways:

• 30-Year Fixed Mortgage Rate: 7.00% (down 3 basis points)
• 15-Year Fixed Mortgage Rate: 6.11% (down 3 basis points)
• 5-Year ARM Mortgage Rate: 7.78% (down 2 basis points)
• 30-Year Fixed Refinance Rate: 7.26% (remained stable)

With the current rates slightly lowering, it's an opportune time to explore your options.

Current Mortgage and Refinance Rates

To gauge how mortgage rates are currently positioned, we can look at several key categories: conforming loans, government loans, and jumbo loans. Below is the breakdown of the current rates by loan type.

Mortgage Rates Overview (as of June 9, 2025) 

Loan Type	Rate	1W Change	APR	1W Change
Conforming Loans
30-Year Fixed	7.00%	up 0.01%	7.48%	up 0.04%
20-Year Fixed	6.80%	down 0.02%	7.29%	up 0.05%
15-Year Fixed	6.11%	up 0.05%	6.43%	up 0.07%
10-Year Fixed	5.97%	up 0.04%	6.05%	down 0.12%
7-Year ARM	8.41%	up 0.60%	8.75%	up 0.52%
5-Year ARM	7.78%	up 0.16%	8.12%	up 0.12%
3-Year ARM	—	0.00%	—	0.00%
Government Loans
30-Year Fixed Rate FHA	7.09%	up 0.18%	8.12%	up 0.18%
30-Year Fixed Rate VA	6.47%	up 0.02%	6.66%	0.00%
15-Year Fixed Rate FHA	6.17%	up 0.48%	7.14%	up 0.47%
15-Year Fixed Rate VA	5.99%	up 0.02%	6.30%	down 0.03%
Jumbo Loans
30-Year Fixed Rate Jumbo	8.07%	up 0.65%	8.55%	up 0.74%
15-Year Fixed Rate Jumbo	8.05%	up 1.28%	8.40%	up 1.39%
7-Year ARM Jumbo	7.53%	0.00%	8.06%	0.00%
5-Year ARM Jumbo	7.51%	down 0.16%	8.01%	down 0.04%
3-Year ARM Jumbo	—	0.00%	—	0.00%

(Data source: Zillow)

The mortgage rates are essential to understanding how the market is evolving. Borrowers can see the differences based on loan type, which is vital when deciding between fixed and adjustable-rate mortgages as well as considering whether they meet standards set for government-backed loans.

Understanding Mortgage Types

When you explore your mortgage options, understanding different types of loans is critical. Each mortgage type has its own advantages and disadvantages, depending on your financial situation and how long you plan on staying in a home.

Fixed-Rate Mortgages: These loans are straightforward. The interest rate remains constant throughout the life of the loan, making budgeting easier. They are ideal for people who plan to stay in their homes long-term. With rates slightly lower now, first-time buyers might find a favorable opportunity to lock in a better rate. A fixed-rate mortgage is akin to having a stable monthly expense, making financial planning much easier.

For example, with a 30-year fixed mortgage at 7%, if you borrow $300,000, your monthly payment (excluding taxes and insurance) would be approximately $1,996. Over the life of the loan, you'd pay around $419,547 in interest alone. While this indicates a larger total cost, knowing that your payment will not fluctuate is beneficial for long-term planning.

Adjustable-Rate Mortgages (ARMs): These loans offer a lower initial interest rate for a fixed period (like the first 5 or 7 years) after which the rate adjusts based on the market. For example, the 5-year ARM is currently priced at 7.78%, appealing to those who may plan to sell before the adjustment occurs. However, the risk lies in the rate changes that can lead to higher payments later on.

Calculating Payments with ARMs

Suppose you opt for a 7-year ARM at 8.41% after which the rate may adjust annually. If you initially borrow the same amount of $300,000, your first monthly payment would be approximately $2,405. After five years, if interest rates rise to 10%, your payment could potentially increase to around $3,221.

Choosing an ARM involves weighing the potential benefits of lower initial payments against the risk of rate increases. If you plan to sell or refinance within the initial fixed-rate period, an ARM can save you significant money upfront.

Refinancing Options

Current refinance rates are another critical component of the mortgage market. As of June 9, 2025, the average 30-year fixed refinance rate is 7.26%. This rate has stayed stable but is slightly up from 7.22% the previous week. Refinancing allows homeowners to replace their existing mortgage with a new loan, often to secure a lower interest rate or change the loan terms.

Refinance Rates Overview (as of June 9, 2025)

Refinance Loan Type	Rate	1W Change	APR	1W Change
Conforming Loans
30-Year Fixed Refinance	7.26%	0.00%	7.74%	up 0.03%
20-Year Fixed Refinance	6.80%	down 0.02%	7.29%	up 0.05%
15-Year Fixed Refinance	6.10%	down 0.05%	6.43%	up 0.07%
10-Year Fixed Refinance	5.97%	up 0.04%	6.05%	down 0.12%
5-Year ARM Refinance	8.07%	0.00%	8.12%	0.00%
3-Year ARM Refinance	—	0.00%	—	0.00%
Government Loans
30-Year Fixed Rate FHA Refinance	6.38%	down 0.32%	7.39%	down 0.33%
30-Year Fixed Rate VA Refinance	6.74%	up 0.16%	6.96%	up 0.18%
15-Year Fixed Rate FHA Refinance	6.21%	up 0.45%	7.18%	up 0.44%
15-Year Fixed Rate VA Refinance	6.14%	up 0.15%	6.50%	up 0.20%
Jumbo Loans
30-Year Fixed Rate Jumbo Refinance	7.25%	down 0.61%	7.88%	down 0.41%
15-Year Fixed Rate Jumbo Refinance	6.57%	0.00%	7.01%	0.00%

(Data source: Zillow)

Refinancing options remain appealing to many homeowners, especially if they can lower their rates significantly. With current rates being relatively stable, the opportunity to refinance and save on interest can be a solid financial strategy. However, homeowners must weigh the closing costs of refinancing against potential savings to ensure that it is worthwhile.

Reasons to Refinance

Homeowners might consider refinancing for various reasons, including:

• Lowering Monthly Payments: Securing a lower interest rate can lead to substantial savings on monthly payments.
• Shortening Loan Terms: Switching from a 30-year loan to a 15-year loan can save on interest over the life of the loan.
• Changing Loan Type: Switching from an adjustable-rate mortgage to a fixed-rate mortgage can provide peace of mind.
• Cash-Out Refinancing: This option allows homeowners to tap into their home equity for expenses like home improvements or debt consolidation.

Market Reactions and Predictions

Looking ahead, mortgage rate predictions indicate a potential for gradual declines. According to the National Association of REALTORS® and Fannie Mae, mortgage rates could average around 6.4% through the end of 2025. This is a slight decrease compared to previous predictions, suggesting that as we advance into the latter half of the year, homebuyers and owners may face more favorable borrowing conditions.

This prediction of declining rates may lead to a more active housing market. As rates stabilize, more buyers might enter the market, looking to capitalize on favorable terms. High demand can lead to increased home prices; however, buyers might also feel pressured to purchase before potential future increases.

However, Freddie Mac notes that while rates are expected to decline, they may remain higher for prolonged periods, significantly affecting home sales. As potential buyers adjust their expectations, we might see an active market as individuals no longer wait for better rates to proceed with their purchasing decisions.

Influence of Economic Conditions on Mortgage Rates

Mortgage rates are influenced by various factors, including inflation, employment rates, and Federal Reserve policies. As economic conditions fluctuate, so do mortgage rates, making it essential for prospective buyers and homeowners to stay informed.

For instance, if inflation rates continue to rise, we might expect the Federal Reserve to increase interest rates in response. This could push mortgage rates higher, impacting affordability for future home buyers. Conversely, if inflation trends downward, rates might stabilize or decline, creating opportunities for more advantageous borrowing conditions.

Final Thoughts on Today's Mortgage Rates

Current mortgage and refinance rates show minor fluctuations, with some categories slightly improving and others remaining stable. For prospective buyers and homeowners considering refinancing, it’s crucial to monitor the trends closely. The slight drop in mortgage rates might just be what buyers need to make informed decisions in their journey toward homeownership.

Prices vary across loan types with specific factors affecting each category. Whether it’s fixed or adjustable-rate mortgages or the decision to refinance, understanding these nuances can empower borrowers to choose the best mortgage plan for their unique financial situations and future goals.

In conclusion, as the housing market experiences continuous shifts, prospective buyers, current homeowners, and investors must stay up-to-date on mortgage trends. With diligent research and an understanding of personal financial goals, navigating the landscape of mortgage rates can lead to informed and beneficial choices.