Story perspectives

30-Year Rate Slides to 6.48%, Pending Sales Up 7%

6/7/2026

Summary

Freddie Mac Rate Drop

Freddie Mac reported the average 30-year fixed mortgage rate fell to 6.48% on June 4, 2026, from 6.53%.
Mortgage spreads closed at 2.01% last week, down from 2.03%, keeping rates below 7% while 10-year Treasury yields hovered near 4.60%.
The Congressional Budget Office said the 2025 tax and immigration bill will add $3.4 trillion to deficits, raising Treasury bond supply.
Pending home sales fell 3% week-to-week to 75,935, marking a 7% year-over-year rise.

Summary

FHA Rate Increase

On June 5 2026, FHA rates rose to 6.250%; VA rates rose to 6.097%; USDA rates fell to 6.103%.
Adjustable-rate mortgages such as 5/1 and 7/1 provide low intro rates, e.g., a 7-year fixed at 5.750% from Bank of America, attracting short-term owners.
Discount points lower rates ~0.25 point each but raise upfront costs; refinancing $300,000 loans costs 2-6 % ($6,000-$18,000); lenders favor borrowers with >=20% down and mid-700 scores for lock-and-shop options.

History

Historical Context

Lehman Brothers filed for bankruptcy on September 15 2008, sparking a global credit freeze and the worst recession since the Great Depression. Days later the U.S. placed Fannie Mae and Freddie Mac under conservatorship, and on October 3 President George W. Bush signed the Emergency Economic Stabilization Act, creating a $700 billion Treasury fund. Freddie Mac’s 30-year mortgage rate now sits near 6.5%, echoing lingering crisis pressures.

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Freddie Mac Rate Drop

Freddie Mac reported the average 30-year fixed mortgage rate fell to 6.48% on June 4, 2026, from 6.53%.
Mortgage spreads closed at 2.01% last week, down from 2.03%, keeping rates below 7% while 10-year Treasury yields hovered near 4.60%.
The Congressional Budget Office said the 2025 tax and immigration bill will add $3.4 trillion to deficits, raising Treasury bond supply.
Pending home sales fell 3% week-to-week to 75,935, marking a 7% year-over-year rise.

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