The full article continues below these offers from our partners.
As recently has Wednesday, mortgage rates were enjoying a notable two-week slide. But then came Friday’s May jobs report. While it delivered good news on the economy—showing more labor market resiliency than was expected—it triggered a bond market pullback as traders reversed defensive bond-heavy positions they had taken pre-jobs data.
When bond traders sell, prices fall and yields rise—pushing mortgage rates higher. Indeed, most loan types saw a sharp increase on Friday.
Below, you can see how substantial the two-day change was from Wednesday to Friday for each new purchase mortgage type. We then dive deeper into 30-year, 15-year, and jumbo 30-year fixed-rate loans.
| Mortgage Type | Jun 4 averages | Jun 6 averages | 2-day change |
|---|---|---|---|
| 30-Year Fixed | 6.91% | 7.02% | + 0.11 |
| FHA 30-Year Fixed | 7.37% | 7.13% | No change |
| VA 30-Year Fixed | 6.59% | 6.67% | + 0.08 |
| 20-Year Fixed | 6.67% | 6.88% | + 0.21 |
| 15-Year Fixed | 5.90% | 6.08% | + 0.18 |
| FHA 15-Year Fixed | 6.78% | 7.40% | No change |
| 10-Year Fixed | 5.80% | 6.12% | + 0.32 |
| 7/6 ARM | 7.29% | 7.39% | + 0.10 |
| 5/6 ARM | 7.23% | 7.36% | + 0.13 |
| Jumbo 30-Year Fixed | 6.92% | 6.97% | + 0.05 |
| Jumbo 15-Year Fixed | 6.81% | 7.00% | + 0.19 |
| Jumbo 7/6 ARM | 7.45% | 7.47% | + 0.02 |
| Jumbo 5/6 ARM | 7.34% | 7.40% | + 0.06 |
Rates on new 30-year purchase loans had been falling for most of the past two weeks, offering some relief after hitting a one-year high of 7.15% in mid-May. The flagship average dropped a substantial 24 basis points to reach 6.91% on June 4. But after a mild increase Thursday and a sharper jump Friday, the 30-year average has climbed back to 7.02%—an 11 basis point rise over two days.
Rates on new 15-year purchase loans rose 6 basis points Thursday, then surged another 12 points Friday, lifting the average to 6.08%. That’s up from 5.90% on Wednesday—a two-month low.
Among major loan types, jumbo 30-year mortgage rates saw a more modest increase to end the week. The average rose just 5 basis points from Wednesday to Friday, landing at 6.97%—still below the 2025 high of 7.16%.
A jumbo mortgage is one that exceeds the maximum loan limits for Fannie Mae and Freddie Mac conforming loans—$806,500 for single-family homes in most parts of the U.S. in 2025, but up to $1,209,750 in certain more expensive areas.
To see how much this week’s rate increases would impact monthly payments for new borrowers, our tables below lay out the principal-plus-interest payment for various loan amounts with a 30-year, 15-year, or jumbo 30-year fixed-rate new purchase mortgage.
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
|---|---|---|---|---|---|---|
| Wed, Jun 4 | 6.91% | $1,648 | $2,307 | $2,967 | $3,626 | $4,285 |
| Fri, Jun 6 | 7.02% | $1,667 | $2,333 | $3,000 | $3,667 | $4,333 |
| 2-day climb | + 0.11 | + $19 | + $26 | + $33 | + $41 | + $48 |
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
|---|---|---|---|---|---|---|
| Wed, Jun. 4 | 5.90% | $2,096 | $2,935 | $3,773 | $4,612 | $5,450 |
| Fri, Jun 6 | 6.08% | $2,120 | $2,969 | $3,817 | $4,665 | $5,513 |
| 2-day climb | + 0.18 | + $24 | + $34 | + $44 | + $53 | + $63 |
By definition, jumbo 30-year mortgages are larger loans. So below we’ve run our calculations on loan amounts of $800,000 to $1.2 million.
| National average rate | $800,000 | $900,000 | $1,000,000 | $1,100,000 | $1,200,000 | |
|---|---|---|---|---|---|---|
| Wed, Jun. 4 | 6.92% | $5,280 | $5,939 | $6,599 | $7,259 | $7,919 |
| Fri, Jun 6 | 6.97% | $5,306 | $5,970 | $6,633 | $7,296 | $7,959 |
| 2-day climb | + 0.05 | + $26 | + $31 | + $34 | + $37 | + $40 |
The national and state averages cited above are provided as is via the Zillow Mortgage API, assuming a loan-to-value (LTV) ratio of 80% (i.e., a down payment of at least 20%) and an applicant credit score in the 680–739 range. The resulting rates represent what borrowers should expect when receiving quotes from lenders based on their qualifications, which may vary from advertised teaser rates. © Zillow, Inc., 2025. Use is subject to the Zillow Terms of Use.
