What are today's mortgage interest rates: May 6, 2026?

Homebuyers and owners looking to refinance should start by reviewing their mortgage rate options. /iStockphoto While mortgage interest rates this month may not start in the position many borrowers would prefer, they're still better than what they were in May 2025. And better than they were in May 2024, too. The average rate on a 30-year mortgage loan was 6.76% on May 8, 2025, according to historical data from FreddieMac . It was significantly higher on May 9, 2024, when the median was 7.09%. It was in mid-April, however, when mortgage rates for 30-year terms were under 6% again . They could fall back into the range this May , too, assuming certain conditions are met, or market conditions change to favor borrowers. At the same time, while they may not be ideal, today's mortgage interest rates may already fit your budget. By locking one in now, you can confidently proceed with the homebuying or refinancing process without having to worry about any rate hikes, too. But is that really a smart move? Or should borrowers wait for the rate market to change again before acting? To better decide on their next step, it helps to know where mortgage interest rates stand as of May 6, 2026. See how low your current mortgage rate offers are here now . What are today's mortgage interest rates? The average mortgage interest rate on a 30-year mortgage is 6.37% as of May 6, 2026, according to Zillow . The median refinance rate on a 15-year term is 5.87%. …