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Current mortgage rates report for June 2, 2025: Rates remain high

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  See Monday's report on average mortgage rates on different types of home loans so you can pick the best mortgage for your needs as you house shop.

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On June 2, 2025, mortgage rates have seen a slight decrease, with the average 30-year fixed-rate mortgage at 6.99%, down from last week's 7.05%, and the 15-year fixed-rate mortgage at 6.35%, a drop from 6.40%. The 5/1 adjustable-rate mortgage (ARM) stands at 6.50%, slightly lower than the previous week's 6.55%. Despite these declines, rates remain elevated compared to historical lows, influenced by persistent inflation and the Federal Reserve's cautious approach to interest rate adjustments. Homebuyers are advised to compare rates from multiple lenders to secure the best possible deal in this high-rate environment.

Read the Full Fortune Article at:
[ https://fortune.com/article/current-mortgage-rates-06-02-2025/ ]