What are today's mortgage interest rates: May 5, 2026?

Mortgage involvement rates person changed noticeably successful caller weeks, affecting some buyers and owners looking to refinance. GeorgePeters/Getty Images

Hunting for debased mortgage involvement rates is an integral portion of the homebuying and refinancing processes. But successful caller years and caller weeks, successful particular, it's often been a frustrating one. After owe rates concisely dipped below 6% successful March, they surged again by the end of the month, mostly based connected overseas conflicts and marketplace uncertainty. They declined concisely again successful April but past roseate erstwhile again past week aft the Federal Reserve again elected to support involvement rates connected pause, its 3rd specified frost truthful acold successful 2026. And with nary Fed gathering adjacent connected the calendar for May, borrowers hoping for alleviation from the cardinal slope volition request to look elsewhere for the clip being.

But that doesn't mean that owe involvement rates inactive can't decline. They tin and perchance even this May, arsenic rates are driven by a multitude of factors, of which the Fed is conscionable a azygous one, adjacent if it does play a captious role. To amended find if they should hold for rates to diminution oregon if it's worthy locking successful a owe rate currently, borrowers request to cognize wherever rates basal arsenic of May 5, 2026.

Start by seeing what your existent owe complaint offers look similar here.

What are today's owe involvement rates?

The mean owe involvement complaint connected a 30-year word is 6.37% arsenic of May 5, 2026, according to Zillow. The mean complaint connected a 15-year word is 5.87%. While these rates correspond an summation compared to what was disposable successful caller months, historically, they're astir successful enactment with what borrowers person been offered successful the past. And they're inactive noticeably improved from wherever they stood successful aboriginal May 2025. And beneath what they were successful May 2024, too. So, portion not ideal, these rates whitethorn inactive beryllium capable to acceptable your fund and let you to proceed with your homebuying plans. And this clip of twelvemonth is 1 of the champion times to bash so, arsenic inventory is usually plentiful and the upwind is much accommodating than it would beryllium astatine different times of year.

Learn much astir your existent owe options online today.

What are today's owe refinance rates?

The mean owe refinance complaint connected a 30-year word is 6.66% arsenic of May 5, 2026, according to Zillow. The mean complaint connected a 15-year word is 5.62%. While these rates whitethorn not beryllium materially little than what you presently have, it's the existent savings that count. So don't disregard either without archetypal taking the clip to cipher your caller imaginable monthly payments with some options. But don't hide to relationship for mortgage refinancing closing costs, which tin negate immoderate of the savings you would different expect to person with a mortgage complaint that's fractional a percent point to a full percent point beneath your existent one.

The bottommost line

The mean owe involvement complaint connected a 30-year owe is 6.37% arsenic of May 5, 2026 and it is 5.87% for a 15-year term. The median refi complaint connected a 30-year word is 6.66% and it is 5.62% for those looking to refinance into a 15-year loan. While these rates whitethorn not beryllium ideal, they tin acceptable the fund for galore borrowers now. At the aforesaid time, owe rates bash alteration each day, sometimes successful unexpected, affirmative ways. Continue to monitor the complaint clime daily, then, and proceed working connected your recognition score successful the interim, truthful that you're prepared and qualified to fastener successful a new, amended complaint erstwhile it yet presents itself again.

Edited by Angelica Leicht