Mortgage Rates – May 5, 2026
Mortgage rates have been nothing short of volatile since the US war on Iran spiked oil prices and spooked the markets. Yesterday it appeared as though the cease fire was over although the administration says otherwise. Regardless of your political persuasion, the confusion over missile strikes and the definition of ceasefire is contributing to the worst mortgage rates of the year.
Last week we received news that Jerome Powell will remain on the fed board for the foreseeable future as well as feedback that spiking inflation has eliminated any chance for rate cuts in the near term. This week should be relatively quiet aside from global conflict with only new construction data to come Tuesday morning.
All things considered we are still not in a rate environment as high as recent years. Deals are to be had and the first step is finding a lender to get pre-approved so you can lock when the time is right.
Looking to refi today? Calculate Your Home Loan Savings!
| Source | 15 Year Fixed | 30 Year Fixed |
|---|---|---|
| IcanBuy | 5.60 | 6.46 |
| Bankrate | 5.79 | 6.46 |
| Mortgage News Daily | 6.05 | 6.56 |
| Average | 5.8133333333333 | 6.4933333333333 |
*Actual rates available with your lender may vary.
