Mortgage rates today, May 27, 2026

Rates are daily averages based on Better Mortgage data, not APRs, and vary by borrower.

Mortgage rates on May 27, 2026 are averaging 6.62% for a 30-year fixed loan and 6.01% for a 15-year fixed, based on current industry data. A 5/1 ARM is averaging 5.96% today.

Rates have moved higher over the past several weeks, pushed upward by rising oil prices tied to ongoing geopolitical tension and a hotter-than-expected inflation reading.

Whether you're buying or refinancing, here's what today's rate environment means for your next move.

...in as little as 3 minutes — no credit impact

View today's mortgage rates on Better to see a personalized figure based on your credit profile and loan scenario — not just the national average.

Today's mortgage rates at a glance

Loan type	Average rate¹
30-year fixed	6.62%
15-year fixed	6.01%
5/1 ARM	5.96%
30-year fixed refinance	6.77%
15-year fixed refinance	6.15%

These are national averages. Your actual rate depends on your credit score, down payment, loan amount, and lender.

...in as little as 3 minutes — no credit impact

What's moving mortgage rates today

Three forces are driving rate movement right now.

Geopolitical tension and oil prices. Rates have climbed in recent weeks as conflict in the Middle East has pushed oil prices higher. Rising energy costs feed directly into broader inflation, and higher inflation expectations push mortgage rates up. According to recent industry analysis, the bond market has been particularly reactive to geopolitical headlines, creating day-to-day volatility that's difficult to forecast.

April's inflation report. Recent CPI data showed inflation rising at its fastest annual pace since mid-2023, applying fresh upward pressure on rates. When inflation runs hot, the Federal Reserve is less likely to cut rates, and investors demand higher yields on bonds to compensate, which pulls mortgage rates higher alongside them.

10-year Treasury yields. The yield on the 10-year U.S. Treasury note is the benchmark mortgage lenders watch most closely. As investors sell Treasuries, in response to recent headlines, yields climb and 30-year mortgage rates follow. The spread between the 10-year yield and the average mortgage rate has been elevated, reflecting lender caution about economic uncertainty.

Understanding what determines mortgage rates helps you read rate movement more clearly and decide whether acting now or waiting makes sense for your situation.

How the bond market affects your rate

When a lender commits to a 30-year fixed mortgage, they're locking in a return for three decades. The risk they face — that inflation erodes that return, or that borrowers refinance when rates fall — gets priced into a spread above the 10-year Treasury yield. That spread typically runs 1.5–2.5 percentage points, though it has stayed elevated over the past two years as financial market volatility has increased. The more uncertainty lenders see in the market, the wider that spread tends to run.

How your profile affects the rate you'll actually get

The national average is a useful reference point, but it's not your rate. Lenders price each loan individually based on risk factors specific to you, and those factors can move your rate meaningfully in either direction.

Credit score. This is the single lever most borrowers control most directly before applying. Lenders use credit score tiers to set rate pricing, and the difference between a 680 and a 760 score can be significant, not just in the rate offered, but in total interest paid over a 30-year term.

Loan-to-value ratio (LTV). LTV is your loan amount divided by the home's appraised value. A lower LTV, meaning a larger down payment or more equity, signals lower risk to the lender and typically results in a better rate. Borrowers putting 20% down also eliminate private mortgage insurance (PMI), which further reduces the monthly cost of homeownership.

Loan size. Loans above the conforming loan limit, which is set at $806,500 in most of the U.S. for 2026, are classified as jumbo loans and priced separately. Jumbo borrowers typically need stronger credit profiles and larger cash reserves.

Property type. Investment properties and second homes carry higher rates than primary residences. Multi-unit properties are also priced at a premium compared to single-family homes.

Credit score and rate — what the tiers mean

Credit score range	Approximate rate impact vs. national average
760 and above	At or below average
720–759	Slightly above average
680–719	Moderately above average
640–679	Noticeably above average
Below 640	Significantly above average; some loan types only

Example is for illustrative purposes only. Rates, payments, and total interest will vary based on credit profile, loan terms, and market conditions.

If your credit score has room to improve, even 60–90 days of focused effort on paying down revolving balances and avoiding new hard inquiries can move you into a better pricing tier. Use a mortgage calculator to model how different rate scenarios translate into monthly payments before you commit.

Should you lock your mortgage rate today?

A rate lock is a commitment from your lender to hold your quoted interest rate for a specified period — typically 30, 45, or 60 days — while your loan moves through underwriting. Locking protects you from rate increases between application and closing. The tradeoff: if rates fall after you lock, you don't automatically benefit unless you have a float-down option.

Lock if you're within 30–45 days of closing. At this stage, the risk of rates moving higher before closing typically outweighs the benefit of waiting. Locking in a rate you're comfortable with removes a significant variable from your timeline.

Float carefully if you're earlier in the process. If you're still shopping for a home or haven't gone under contract yet, you have more flexibility. But floating carries real risk in a volatile rate environment as rates can reverse quickly on a single data point or news event.

Ask about float-down options. Some lenders offer a float-down provision that lets you capture a lower rate if rates fall after you lock, typically for a fee. This can be worth asking about if you're locking now and want some downside protection.

For more on the mechanics, see should I lock my mortgage rate today. If you're comparing lenders, understanding both how to shop around for mortgage rates and whether mortgage rates are negotiable can improve your starting position. You can also learn more about why mortgage rates are going up in the current environment.

Today's refinance rates

Refinance rates on May 27, 2026 are averaging 6.77% on a 30-year fixed and 6.15% on a 15-year fixed. View current refinance rates to see where your scenario lands.

For most homeowners who refinanced or purchased in 2020–2021, when rates were in the 2.75%–3.5% range, a rate-and-term refinance doesn't make financial sense at current levels. The math simply doesn't work: refinancing today would raise your rate, your payment, and your total interest cost.

The calculation is different for a narrower group of borrowers:

• Homeowners who purchased in late 2023 or 2024 at rates above 7.5% and have since improved their credit profile
• Borrowers with adjustable-rate mortgages approaching their first adjustment period who want to lock in a fixed rate before the change
• Homeowners with significant equity who want to consolidate high-interest debt through a cash-out refinance and have done the break-even math

The key question is always break-even: how many months of lower payments does it take to recover your closing costs? Use a refinance savings calculator to run that number before making a decision. If you're planning to stay in your home long enough to break even — typically two to four years — a refinance can still make sense even in a higher-rate environment.

Frequently asked questions

What are mortgage rates today, May 27, 2026?

The national average for a 30-year fixed mortgage is 6.62% today, and the 15-year fixed is averaging 6.01%, based on current industry data. The 5/1 ARM average is 5.96%. These are national averages. Your actual rate will vary based on your credit score, down payment, loan type, and lender. Get pre-approved at Better to see the rate you personally qualify for.

What's expected to happen with mortgage rates this week?

Near-term rate direction depends on Treasury yield behavior, any new economic data releases, and ongoing geopolitical developments. There are no guaranteed forecasts. Rates can shift quickly on a single inflation report or policy signal. Watching 10-year Treasury yields is the clearest daily indicator available.

I have a 680 credit score and want to buy a $400,000 home — what interest rate can I expect?

With a 680 credit score, you'll likely qualify for a rate that's moderately above the national average. The exact figure depends on your down payment, debt-to-income ratio, and the lender you choose. Getting pre-approved gives you a real number based on your actual profile. If you have time before applying, improving your score into the 720+ tier can make a meaningful difference in the rate you're offered.

How does the Federal Reserve's rate decision affect mortgage rates?

The Fed controls the federal funds rate, the rate that banks charge each other for short-term loans. Mortgage rates aren't set by the Fed directly, but they respond to what the Fed signals about inflation and future rate policy. When the Fed indicates it plans to hold rates higher for longer, mortgage rates tend to stay elevated. Expectations of future cuts can put gradual downward pressure on rates, though the relationship is indirect and often delayed.

Is a 15-year mortgage worth it compared to a 30-year right now?

Today's 15-year rate of 6.01% is meaningfully lower than the 30-year rate of 6.62%, but the monthly payment on a 15-year is substantially higher for the same loan amount. The 15-year is worth it if you can comfortably absorb the higher payment and want to build equity faster while paying significantly less in total interest. If the higher payment creates cash flow pressure, a 30-year mortgage with voluntary extra principal payments gives you more flexibility with similar long-term benefits.

I'm thinking about refinancing my 2021 mortgage. Do today's rates make it worth it?

If you locked in a rate in 2021, you likely have a rate in the 2.75%–3.25% range. At today's average of 6.62% for a 30-year fixed, refinancing would more than double your rate and dramatically increase your monthly payment and total interest cost. A rate-and-term refinance almost certainly doesn't make sense for 2021 borrowers unless there are other financial goals, like accessing equity, driving the decision.

What's the difference between a mortgage interest rate and APR?

The interest rate determines your monthly principal and interest payment. The APR (annual percentage rate) includes the interest rate plus lender fees, including origination charges, points, and certain closing costs, expressed as a single annualized figure. APR is more useful when comparing loan offers because it reflects the full cost of the loan, not just the base rate. Always compare APRs when evaluating multiple lenders on the same loan scenario.

At what point should I stop waiting for rates to drop and just lock in?

There's no universal answer, but a practical rule of thumb: if you're within 30 days of your target closing date, the risk of continued floating typically outweighs the potential benefit of a modestly lower rate. If you've been watching rates for several weeks and they've stayed flat or moved against you, locking in a rate you can comfortably afford is usually wiser than waiting for further improvement that may not come.

...in as little as 3 minutes — no credit impact

Rates at 6.62% are higher than many buyers hoped for, but they don't change the fundamental calculus of homeownership. They change the payment. The right time to buy or refinance depends on your financial profile, your timeline, and the math specific to your situation. Get pre-approved to see your real rate, not a range, and make your next move with full information.

Rates shown are daily average interest rates, not APRs, based on Better Mortgage data and are for informational purposes only. Rates are not guaranteed, may include borrower-paid or lender credits, and actual rates and terms vary by borrower and transaction. Comparison to industry average rates may not reflect individual borrower scenarios and is not a guarantee of lower rates or savings.