Mortgage Rates Show Mixed Movement on June 16, 2026: 30- and 15-Year Rates Fall

On Tuesday, June 16, 2026, mortgage rates displayed divergent trends across different loan products, according to data from the Zillow lender marketplace. The 30-year fixed mortgage rate averaged 6.31%, declining 4 basis points from the previous day, while the 15-year fixed rate stood at 5.74%, also down 4 basis points. These declines in the two most popular mortgage products contrasted with movement in other segments of the market.

Meanwhile, longer-term and adjustable-rate products moved in the opposite direction. The 20-year fixed rate increased 9 basis points to 6.19%, and the 5/1 adjustable-rate mortgage (ARM) rose marginally to 6.31%, just 1 basis point higher than Monday. The 7/1 ARM was recorded at 6.32%. For borrowers with Veterans Affairs eligibility, the 30-year VA rate stood at 5.88% and the 15-year VA rate at 5.39%.

Refinance rates, which typically run higher than purchase rates, showed corresponding patterns. The 30-year fixed refinance rate was 6.34%, while the 15-year fixed refinance rate reached 5.82%. The 20-year fixed refinance rate was 6.11%. These rates reflect the national averages rounded to the nearest hundredth and are based on aggregated data from lenders available through Zillow's marketplace.

The mixed rate environment reflects ongoing volatility in mortgage markets. Borrowers considering refinancing should compare rates across different loan terms, as shorter-term mortgages typically offer lower rates but higher monthly payments. The distinction between fixed-rate and adjustable-rate products remains significant, with fixed rates locked from origination, while ARM rates remain constant only during an initial period before adjusting based on market conditions.