Home Loan Rates Improve for Borrowers: Current Mortgage Rates for June 3, 2025

Katherine Watt is a CNET Money writer focusing on mortgages, home equity and banking. She previously wrote about personal finance for NextAdvisor. Based in New York, Katherine graduated summa cum laude from Colgate University with a bachelor's degree in English literature.

Check out CNET Money's weekly mortgage rate forecast for a more in-depth look at what’s next for Fed rate cuts, labor data and inflation.

It’s been a bumpy few months for mortgage rates. Lingering inflation, the threat of a global trade war and growing recession worries have reduced affordable options for homebuyers.

The average for a 30-year fixed mortgage is 6.97% today, down -0.05% compared to one week ago. The average rate for a 15-year fixed mortgage is 6.16%, which is a decrease of -0.03% from the same time last week.

Given so ...