What are today's mortgage interest rates: May 8, 2026?
Summary
Mortgage interest rates have increased since early 2026, with the average 30-year rate at 6.37% and the 15-year rate at 5.75% as of May 8, 2026. Rates for refinancing are also higher but may still benefit some homeowners looking to lower payments or shorten loan terms.Key Facts
- The average 30-year mortgage rate is 6.37% as of May 8, 2026.
- The average 15-year mortgage rate is 5.75% as of the same date.
- These rates are about half a percentage point higher than in early March 2026.
- The average 30-year mortgage refinance rate is 6.60%.
- The median refinance rate for a 15-year term is 5.67%.
- Rates briefly dropped below 6% in April before rising again after a Federal Reserve meeting.
- Potential changes in inflation data may affect mortgage rates later in May.
- Refinancing can be beneficial for some borrowers, especially if their current rates are above these averages, but closing costs and how long they plan to stay in the home matter.
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