30-Year Mortgage Rate Averages 6.37% on May 6, 2026

Mortgage interest rates this month may not start where many borrowers would prefer, but they remain better than in May 2025 and May 2024. Freddie Mac historical data shows the average 30-year mortgage rate at 6.76% on May 8, 2025. It stood much higher at a median of 7.09% on May 9, 2024. Rates for 30-year terms dipped under 6% in mid-April, and they could return to that range this May if conditions shift to favor borrowers.

Current rates may already suit some budgets. Borrowers who lock in now can move forward with homebuying or refinancing without fear of increases. To gauge the best step, prospective buyers need the latest figures as of May 6, 2026.

The average rate on a 30-year mortgage stands at 6.37% on May 6, 2026, according to Zillow. The median refinance rate on a 15-year term is 5.87%. Compared with recent years, the 30-year rate is lower.

A difference of about half a percentage point translates to substantial monthly savings and even more over the life of the loan. The 6.37% figure comes from one source. Shoppers who compare offers online often secure lower rates.

The average refinance rate on a 30-year term is 6.72% as of May 6, 2026, per Zillow. The average 15-year refinance rate is 5.81%. These represent single-source data, so motivated borrowers should check other lenders.

Looking beyond the current servicer can yield better rates and terms. Online marketplaces now list rates, lenders, terms and closing costs in one spot, making comparisons straightforward.