The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) in the US edged up by 1bps to 6.93% in the week ended June 6th, 2025, according to the Mortgage Bankers Association. “Treasury rates saw some movement during the week, which resulted in additional opportunities for borrowers”, Joel Kan, MBA’s vice president and deputy chief economist said. Two weeks early, mortgage rates topped a four-month high of 6.98%, when mounting fiscal concerns pushed long-term Treasury yields sharply higher. A year earlier, rates were higher at 7.02%.