Purchase and refinance rate divergence reaches 12 basis points for 30-year fixed loans, signaling shifting lender pricing dynamics.
The average 30-year fixed-rate mortgage fell 6 basis points to 6.42% on June 22, 2026, extending its gap over the 30-year refinance rate to 12 basis points. The 15-year fixed purchase rate declined 8 basis points to 5.79%, now 8 basis points below its refinance counterpart.
Refinance rates remained elevated across most terms, with the 20-year fixed refi rate at 6.51%, 37 basis points above the purchase equivalent. Adjustable-rate mortgages saw volatility, as the 5/1 ARM purchase rate jumped 24 basis points to 6.70%, outpacing its refi rate by 23 basis points.
National averages reflect rounded figures from a broad lender survey, though individual borrower rates may vary based on credit profiles and loan terms.