What are today's mortgage interest rates: May 21, 2026?
Summary
Mortgage interest rates have risen in 2026 after some temporary declines in 2025, making borrowing more expensive for homebuyers and those refinancing their homes. As of May 21, 2026, average rates for 30-year and 15-year mortgages are significantly higher than last year, leading many borrowers to consider locking in current rates.Key Facts
- The average interest rate for a 30-year mortgage is 6.62% as of May 21, 2026.
- The average rate for a 15-year mortgage is 6% as of the same date.
- Refinance rates on a 30-year mortgage have increased to an average of 6.87%.
- The 15-year refinance rate averages at 6%.
- Rates increased compared to earlier months in 2026 and most of 2025.
- Inflation is rising, and the Federal Reserve has paused interest rate cuts, with possible future increases.
- Borrowers are advised to shop around for better mortgage offers and consider locking in rates to avoid potential hikes.
- Some homeowners may benefit from refinancing with 20-year loans that balance shorter paybacks and monthly payments.
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