Published June 2026. For current rates, see Current Rates.
Good news for buyers and homeowners: mortgage rates have continued their slow climb down. According to Freddie Mac’s Primary Mortgage Market Survey for the week ending June 4, 2026, the average 30-year fixed-rate mortgage now sits at 6.48%, down from 6.53% the week before, and a meaningful improvement from 6.85% a year ago. The 15-year fixed averaged 5.79%.
What a Difference a Year Makes
On a $350,000 loan, the drop from 6.85% to 6.48% saves roughly $85 per month, over $1,000 a year. If you bought in the last couple of years when rates were higher, it’s worth a quick conversation about whether a refinance makes sense yet. And if you’ve been waiting on the sidelines to buy, improving rates plus normal summer inventory can be a real window of opportunity in Central Indiana.
Three Ways to Take Advantage
- Get pre-approved now. In competitive Hamilton County markets like Fishers and Carmel, a strong pre-approval lets you move the moment the right house hits the market.
- Ask about a rate buydown. A temporary buydown, often paid by the seller, can lower your payment for the first years of the loan while rates continue to settle.
- Review your current mortgage. A quick annual review costs nothing and tells you exactly what rate would make refinancing worthwhile.
Questions about your situation? Call me at (317) 603-0912 or send me a message, I’m always happy to run the numbers with you.
Source: Freddie Mac Primary Mortgage Market Survey, June 4, 2026. National averages; not a rate quote or offer of credit. Gregory Allen Rank, Channelwood Mortgage, NMLS# 138276. Equal Housing Opportunity.