What are today's mortgage interest rates: May 7, 2026?

Today's mortgage interest rates look different compared to what they were in recent years. Kirpal Kooner/ With the Federal Reserve choosing to keep interest rates on hold last week, its third such freeze in 2026, borrowers may understandably think that their window of opportunity to lock in a low interest rate may have closed. And that could be a realistic concern for homebuyers and owners looking to refinance, especially after rates here briefly dropped below 6% in mid-April. But there are still items that can cause mortgage rates to decline again , perhaps even this May. While the Fed will remain out of consideration this month (the central bank doesn't meet again until June), improvements with inflation, for example, could help. And the next inflation report is just days away from being released. At the same time, mortgage rates are still marginally improved from where they were one year ago and even lower than they were the year before that. And with some time spent shopping around online today, borrowers may still be able to find the purchase or refinance rate they need to support their next steps. To better understand their options, however, it helps to first establish a baseline for where mortgage interest rates sit right now, as of May 7, 2026. That's what we'll examine below. Start comparing your mortgage interest rate options online here . …