Mortgage Rates Hold Steady | Today, May 24, 2026

Today’s mortgage rates

Mortgage rates dipped slightly Friday as Treasury yields held flat at 4.558%, offering a small reprieve after Freddie Mac’s weekly average jumped 15 basis points to 6.51%. The rate picture is mixed heading into the holiday weekend, with some loan types ticking down while others crept higher compared to last week. With no major economic data releases on the calendar today, expect rates to drift sideways until markets reopen.

Although rates have elevated from recent lows, see if refinancing makes sense or tapping home equity is prudent. For home buyers, explore expert advice for 2026 and check if you qualify for financial assistance programs or more flexible loan options.

Current mortgage and refinance rates

>Related: 7 Tips to get the best refinance rate

30-year fixed rate mortgage

At the time this was published, the average 30-year fixed mortgage rate reached 6.651%.

The average 30-year fixed rate mortgage (FRM) hit a record weekly low of 2.65% on Jan. 7, 2021, and a record weekly high of 8.89% on Dec. 16, 1994, according to Freddie Mac.

A 30-year FRM gives borrowers an affordable option but you pay more interest over the life of the loan compared to shorter mortgages.

15-year fixed rate mortgage

Today, the average 15-year fixed mortgage rate went to 6.008%.

The average 15-year FRM hit a record weekly low of 2.1% on July 29, 2021, and a record weekly high of 18.63% on Sep. 10, 1981, according to Freddie Mac.

The 15-year FRM offers borrowers a briefer term with less accrued interest, but the monthly payments will be much higher.

5/1 adjustable-rate mortgage

This morning’s 5/1 adjustable rate mortgage averaged 5.82%.

Adjustable-rate mortgages (ARMs) typically have lower initial interest rates compared to fixed loans. Once that initial period ends, the interest rate adjusts to the current market conditions. In this case, the initial period is five years and the adjustments are up to once every year. Homeowners with shorter term lending plans tend to see these as advantageous.

What experts are expecting

Ralph DiBugnara, president at Home Qualified

“I expect rates to stay in a relatively similar range as where they ended in March, likely hovering in the low-to-mid 6% range. Current global uncertainty and inflation data will keep volatility in play. Also any rate cuts at all by the Fed may be in jeopardy now so that will keep markets frozen some. Unless we get a clear cooling signal from the Fed, don’t expect a drop. The 30-year fixed should average around 6.25% with the 15 year fixed at 5.875%“

Market data affecting today’s mortgage rates

Here’s a snapshot of the state of play as this article was published. The data mostly compares to roughly the same time the business day before, so much of the movement will often have happened in the previous session.

• The yield on 10-year Treasury notes unchanged to 4.558% from 4.558% (Neutral for mortgage rates). Mortgage rates often follow these Treasury bond yields.
• Major stock indexes rose this morning. (Bad for mortgage rates.) When investors sell shares and move into bonds, bond purchases can push prices up and yields down, potentially easing mortgage rates.
• Oil prices unchanged to $97.0 from $97.0 a barrel. (Neutral for mortgage rates.*)
• Gold prices unchanged to $4,510.5 from $4,510.50 an ounce. (Neutral for mortgage rates.*)
• CNN Business Fear & Greed Index unchanged to 58.6 from 58.6 out of 100. (Neutral for mortgage rates.) “Greed” suggests investors are seeking safety, supporting bond prices.

*A movement of less than $20 on gold prices or 40 cents on oil prices is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.

Caveats about markets and rates

Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. But that’s no longer the case. We still make daily calls. And are usually right. But our record for accuracy won’t achieve its former high levels until things settle down.

So, use markets only as a rough guide. Because they have to be exceptionally strong or weak for us to rely on them. But, with that caveat, mortgage rates today might nudge upward or barely budge. However, be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.

What’s driving mortgage rates today?

This week

Mortgage rates ticked higher last week, with Freddie Mac’s benchmark 30-year fixed climbing to 6.51% from 6.36% the week prior. That said, rates eased slightly by Friday as Treasury yields leveled off. The 10-year Treasury sat at 4.558% heading into the weekend, essentially flat from where it started.

Stocks drifted upward. The Dow gained 0.58%, the S&P 500 added 0.37%, and the NASDAQ inched up 0.19%. Oil held steady at $97 a barrel, gold stayed put at $4,510.50, and investor sentiment landed in “greed” territory at 58.6 on the Fear & Greed Index.

This week brings a handful of economic reports and a busy stretch of Fed speakers, capped off by the release of the latest FOMC meeting minutes on Wednesday.

Monday is light. Fed Governor Cheryl Venable speaks at 8:30am ET. Tuesday picks up with Fed Governor Christopher Waller at 8am ET, followed by Anna Paulson at 7pm ET and Venable again at 7:45pm ET.

Wednesday is the big day. MBA mortgage applications drop at 7am ET, Michael Barr speaks at 9:15am ET, the EIA petroleum status report hits at 10:30am ET, and then the FOMC minutes come out at 2pm ET. Those minutes will give house hunters and investors a closer look at how the voting committee weighed its most recent rate decision and where heads are at on inflation and economic conditions.

Thursday packs in housing starts and building permits alongside initial jobless claims, both at 8:30am ET. The EIA natural gas report follows at 10:30am ET, Richmond Fed President Thomas Barkin speaks at 12:20pm ET, and the Fed balance sheet publishes at 4:30pm ET. The housing data will be worth watching for any signs of movement from builders.

Friday closes the week with the University of Michigan consumer sentiment reading at 10am ET, right alongside another appearance from Waller at 10am ET.

The FOMC minutes on Wednesday are the main event. With rates still elevated and borrowers waiting for any sign of relief down the road, the Fed’s internal debate will set the tone for what comes next.

Recent trends

Freddie Mac’s May 24 report put the weekly 30-year fixed mortgage rate average at 6.51%. Freddie’s data serves as a market barometer and trend tracker, but individual rates vary by lender and depend on personal financial profiles.

Expert forecasts for mortgage rates

Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.

Here are their quarterly rate forecasts for the next year.

The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie updated its forecast on March 10 and the MBA updated theirs on March 23.

Of course, given so many unknowables, these forecasts might be even more speculative than usual. And their past record for accuracy — due to the volatile nature of interest rates — hasn’t been wildly impressive.

Mortgage rate methodology

The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.

Current mortgage rates methodology

We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.