What are today's mortgage interest rates: May 1, 2026?
Summary
As of May 1, 2026, the average mortgage interest rates for homebuyers and refinance borrowers remain around 6%. Rates for a 30-year mortgage average 6.37% for purchases and 6.51% for refinances, while 15-year loans average about 5.75% and 5.63% respectively. These rates reflect recent Federal Reserve decisions and other economic factors, including global events.Key Facts
- The average interest rate on a 30-year mortgage for homebuyers is 6.37% as of May 1, 2026.
- The average interest rate on a 15-year mortgage for homebuyers is 5.75%.
- For refinancing, the average 30-year mortgage rate is 6.51%.
- The 15-year refinance mortgage rate averages 5.63%.
- The Federal Reserve recently paused interest rate changes, leading to current mortgage rate levels.
- No Federal Reserve meetings are scheduled for May 2026, which could affect rate movements less directly.
- Other factors, like overseas conflicts and economic reports on inflation and unemployment, can influence mortgage rates.
- Refinancing may only benefit some homeowners after considering monthly savings and closing costs.
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