Rates Drop Sharply to One Week Lows
By: Matthew Graham
3 Hours, 22 Min ago
Mortgage rates began the day in uneventful fashion with the average lender right in line with yesterday's latest levels. Things might have gotten off to a slightly better start, but higher inflation in this morning's econ data and discouraging war-related headlines put upward pressure on bond yields (yields and rates are technically the same thing and they move in the same direction).
The bulk of the day remained uneventful but that changed abruptly at 1:30pm when news circulated that Trump cancelled today's planned air strikes and said that both sides had approved final details of a permanent ceasefire, and that a time/place of a deal signing would be announced shortly. Markets reacted swiftly with stocks rallying, oil falling, and rates dropping.
Mortgage lenders prefer to set rates only once per day, but they will make mid-day changes if the underlying bond market makes a big enough move. Today's was easily big enough, and a vast majority of lenders made friendly revisions to their daily rate offerings in short order. The net effect brough the average lender to the lowest levels since last Thursday.
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Try it Free for 28 DaysToday's Mortgage Rates | Mortgage Calculators
6/11/2026\
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30 Yr. Fixed Rate\
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6.60%\
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-0.07%\
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0.00
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Mortgage Amount
$
Interest Rate
%
Mortgage Term (years)
1520253040
Total Interest
$259,834
Total Cost
$459,834
Monthly Pymt.
$1,277
Mortgage Payment w/ Amortization
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Mortgage Payment w/ Amortization
UMBS 30YR 5.0\
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\
98.13\
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+0.59\
10 Year US Treasury\
\
\
97.254\
\
+0.676\
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Today's Mortgage Rates | Mortgage Calculators
6/11/2026\
\
\
30 Yr. Fixed Rate\
\
\
6.60%\
\
-0.07%\
\
\
0.00
UMBS 30YR 5.0\
\
\
98.13\
\
+0.59\
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