Mortgage rates quickly erased a week of progress this afternoon following the Fed announcement and press conference. Fed announcement day historically has several components: the announcement itself, the summary of economic projections (SEP), and the press conference.  Within the SEP, there is the dot plot showing each Fed member's assumptions about where the Fed Funds Rate will be in the future if the economy continues on the expected course. "The dots" only come out every other Fed meeting, but they have a habit of causing volatile market reactions. Today's was no exception. The dots essentially show that the average Fed member now sees the Fed Funds rate at least 0.25% higher at the end of 2026 than they did back in March. This is responsible for the first big move in the bond market today. Bonds lost more ground during new Fed Chair Kevin Warsh's press conference. The reasons for this could be debated. Some traders may have been expecting Warsh to push back against the dot plot with a more rate-friendly tone. Others may have been disheartened at the lack of any guidance about how the Fed is interpreting incoming economic data. In general, lower transparency regarding the Fed's reaction function arguably requires traders to price in a higher risk premium. Because rates are based on bonds, and because bonds lost ground sharply, mortgage lenders ended up raising rates in the afternoon--some of them up to 3 times. When the dust settled, the average lender was back up to June 10th levels with top-tier 30yr fixed rates at 6.62%.

June 17, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.62% +0.08%   5.99% 6.88% 15 Yr. Fixed 6.16% +0.05%   5.55% 6.25% 30 Yr. Jumbo 6.80% +0.00%   6.1% 6.97% Compare Mortgage Rates from Local Lenders for Jun 17, 2026 Mortgage Rates Spike in Response to Fed Wed, Jun 17, 2026 4:09PM Mortgage rates quickly erased a week of progress this afternoon following the Fed announcement and press conference. Fed announcement day historically has several components: the announcement itself, the summary of economic projections (SEP), and the press conference.  Within the SEP, there is the dot plot showing each Fed member's assumptions about where the Fed Funds Rate will be in the future if the economy continues on the expected course. "The dots" only come out every other Fed meeting, but they have a habit of causing volatile market reactions. Today's was no exception. The dots ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.62% +0.08 0.00 15 Yr. Fixed 6.16% +0.05 0.00 30 Yr. FHA 6.15% +0.03 0.00 30 Yr. Jumbo 6.80% 0.00 0.00 7/6 SOFR ARM 6.24% +0.02 0.00 30 Yr. VA 6.17% +0.03 0.00 Updates Daily - Last Update: 6/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.52% +0.04 0.00 15 Yr. Fixed 5.84% +0.05 0.00 Updates Weekly - Last Update: 6/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.60% +0.03 0.63 15 Yr. Fixed 5.99% +0.06 0.68 30 Yr. Jumbo 6.66% 0.00 0.54 Updates Weekly - Last Update: 6/10 UMBS 30YR 5.0 186.90 +88.90   96.76 186.90 UMBS 30YR 5.5 159.42 +59.34   98.96 159.42 10 YR Treasury 4.461 -0.035   3.948 4.668 Here's What Changed in The New Fed Announcement Wed, Jun 17, 2026 2:00PM Recent indicators suggest that economic activity has been expanding at The Federal Open Market Committee approved the following statement for release by a solid pace. Job gains have remained low, on average, and the unemployment rate has been little changed in recent months. Inflation is elevated, in part reflecting the recent increase in global energy pr... (read more) What Are Bonds Waiting For? Wed, Jun 17, 2026 9:40AM So far today, we've seen some war-related headlines that feel like they should have gotten at least a mild response (Trump saying MOU isn't final and could go back to dropping bombs) and a Retail Sales report that speaks to ongoing economic expansion at a faster-than-expected pace. Both of those things argue for something other than a modest rally in bonds, ... (read more) MBS Price Change UMBS 4.5 95.89 +0.27 UMBS 5.0 98.27 +0.27 UMBS 5.5 100.18 +0.09 GNMA 4.5 95.99 +0.05 GNMA 5.0 98.54 +0.26 GNMA 5.5 100.45 +0.31 Pricing as of: 6/18 9:34AM EST US Treasury Yield Change 2 YR Treasury 4.187 +0.002 5 YR Treasury 4.240 -0.027 7 YR Treasury 4.335 -0.036 10 YR Treasury 4.445 -0.051 30 YR Treasury 4.866 -0.065 Pricing as of: 6/18 9:34AM EST Other News NMLS Review, Fraud Monitor, Margin Mgt. Tools; Mortgage Products Shifting... Progressive's "Uppayment"? Wed, Jun 17, 2026 11:44AM Here in Honolulu, as it is in places like Florida and New York, the condo market and HOA fees are of paramount importance, as are the affordability impact of special assessments. Even though the inventory of houses for sale has steadily increased in many areas, some people want more. One idea being bantered about is changing, or eliminating, the capital gain... (read more) Latest Video Fed Chairman Kevin Warsh: We will review our communications broadly Fed Chairman Warsh: Appointing a task force in five areas central to conduc... Retail sales up 0.9% in May, more than expected Import prices rose much more than expected in May Around the Web CNBC Fed holds rates steady, pares down statement to remove cutting bias BLS Consumer prices up 4.2 percent over the year ended May 2026 CNBC Mortgage rates are now falling but demand is still weaker Investing Live US weekly EIA crude oil inventories -8263K vs -4566K expected CNBC Fed Chair Warsh expected to withhold 'dot' from central bank's interest rate outlook Realtor.com Pending Home Sales Leap 4.8% Annually in May as Buyers Join Late-Spring Rush CNBC Treasury yields inch higher as investors await Fed interest rates decision CNBC Treasury yields fall ahead of Kevin Warsh's first Fed meeting Investing Live US May advance retail sales +0.9% vs +0.5% expected PR Newswire ADP National Employment Report Preliminary Estimate for May 30, 2026 Realtor.com Single-Family Home Construction Falls Again in May in the Face of Soaring Borrowing Costs Eye on Housing Housing Starts Weaken in May as Multifamily Construction Slows Investing Live US April business inventories +0.5% vs +0.5% expected

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