Weekly mortgage rate update

Every Thursday, Freddie Mac publishes its Primary Mortgage Market Survey® (PMMS) — the most widely cited snapshot of average mortgage rates in the country. Here’s this week’s data and what it means if you’re buying, selling, or refinancing in the Tri-Cities.

This week’s rates

Data sourced from Freddie Mac’s PMMS release for the week ending June 25, 2026:

Source: Freddie Mac Primary Mortgage Market Survey®, week ending June 25, 2026. ARM rate is an average of the 5/1 and 5/6 hybrid adjustable-rate mortgages. Rates assume a credit score of 740, 20% down payment, and 0.7 discount points. Actual rates vary by borrower profile.

What happened this week

Rates inched up slightly from last week’s 6.47% on the 30-year fixed — a move of just two basis points. Freddie Mac described rates as “little changed” and “relatively stable over the last six weeks.” After the volatility we saw in 2025, this kind of stability is welcome news. Rates have settled into a narrower band, which gives both buyers and sellers more predictability when planning a move.

What does 6.49% actually mean for your payment?

Let me put real numbers to this. If you’re purchasing a $400,000 home in the Tri-Cities with 20% down ($80,000), your loan amount would be $320,000. Here’s what that looks like at today’s rates:

The 15-year option costs more each month but saves roughly $163,000 in total interest over the life of the loan. For buyers who can comfortably afford the higher payment, it’s a powerful wealth-building tool. For everyone else, the 30-year fixed remains the most popular choice — and at 6.49%, it’s still well below the peaks we saw in late 2023 and mid-2025.

The outlook from Fannie Mae

Fannie Mae’s latest economic forecast projects the 30-year fixed rate to average around 6.3% through mid-2026, with the potential for gradual improvement later in the year. They don’t anticipate a dramatic drop to the 5% range anytime soon — but the forecast does suggest a slow, steady drift downward. That means waiting for a “perfect” rate could mean waiting a long time, while home prices in the Tri-Cities continue to appreciate.

What this means for Tri-Cities buyers

If you’re a first-time buyer or looking to move up, this week’s rates confirm what I’ve been telling my clients: stability is your friend. A predictable rate environment means you can confidently budget, compare loan options, and lock in a rate without racing against wild swings.

In the Tri-Cities, a $400K purchase in Kennewick, Richland, or Pasco still gives you a lot of home — think four bedrooms, a two-car garage, and a yard. Your monthly payment at today’s rate is meaningful, but it’s also building equity in one of the most stable markets in the Pacific Northwest.

What this means for sellers

Stable rates keep buyers in the market. When rates aren’t spiking, buyers can plan and move forward with confidence. That’s good news for anyone listing a home in the Tri-Cities right now. Inventory remains tight, demand is steady, and well-priced homes are still moving quickly. If you’ve been thinking about selling, the current environment is favorable.

The bottom line

Rates moved up by two hundredths of a point this week — that’s not the kind of change that should change your plans. What matters is the overall trend: rates are stable, Fannie Mae sees a gradual path lower, and the Tri-Cities market remains strong. Whether you’re buying your first home or selling an investment property, the fundamentals are sound.

The best time to buy is when you’re ready and the numbers work for your family. And I’m here to make sure they do.

Sources: Freddie Mac Primary Mortgage Market Survey®, week ending June 25, 2026. Fannie Mae Economic and Strategic Research Group forecast, June 2026. Monthly payment estimates calculated with standard amortization formulas — actual payments vary by loan terms, credit score, taxes, insurance, and other factors. This is not financial advice. Consult a licensed lender for personalized rate quotes.