Arkansas Mortgage and Refinance Rates for June 2026

As of Tuesday, June 9, 2026, current Arkansas mortgage rates are 6.56% for a 30-year fixed mortgage and 5.91% for a 15-year fixed mortgage. Rates have been in a holding pattern for much of 2026, hovering between 6.1 and 7% and not offering much relief to hopeful homebuyers waiting for rates to drop. Many economists expect mortgage rates in Arkansas and nationwide to stay above 6% for the rest of the year. 

With refinance rates holding steady in line with purchase rates, there isn't much incentive to refinance unless you still have a rate well north of 7%. If the Federal Reserve opts to cut the federal funds rate in upcoming meetings, rates could decline and make refinancing more appealing to some borrowers. 

Alternatively, if you've owned your home in Arkansas for a long time, you may be in the running for a cash-out refinance that will allow you to tap your equity and pursue other financial goals. 

If you’re an eligible first-time homebuyer in Arkansas, you might qualify for a lower-cost mortgage or down payment assistance. Many of these programs are facilitated by the Arkansas Development Finance Authority (ADFA).

• StartSmart Mortgage Loan program: First-time homebuyers in Arkansas can apply for a StartSmart mortgage, which comes with an interest rate approximately 1% lower than the market rate in the form of an FHA, VA or rural development (USDA) loan. Applicants can’t exceed maximum income limits and must buy a property at or below $500,000.
• Move-Up program: The ADFA works with participating lenders to connect homebuyers with an affordable mortgage through its Move-Up program, offering either a conventional, FHA, VA or USDA loan for buyers of single-family homes, with a 30-year fixed rate. You can't earn more than $142,000 per year and you must have a minimum credit score of 640.
• Down payment and closing cost assistance: The ADFA administers down payment assistance for those participating in the StartSmart or Move-Up programs. This assistance offers qualifying, low- to moderate-income applicants between $1,000 and $15,000 in assistance as a second mortgage with a 10-year term.
• Jonesboro Homeownership Assistance Program: The Jonesboro Homeownership Assistance program is designed to help low- to moderate-income first-time homebuyers purchase homes within the city limits of Jonesboro, Arkansas. Through the program, applicants can receive up to $5,000 to help with the down payment and closing costs. The money is forgivable after living in the home for three years.