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What are today's mortgage interest rates: May 21, 2026?
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TL;DR
- Mortgage interest rates have risen by May 21, 2026, disappointing hopes for continued cuts from late 2025.
- Surging inflation may lead the Federal Reserve to increase rates rather than cut them.
- The average 30-year mortgage rate is 6.62%, and the 15-year rate is 6% as of May 21, 2026.
- Average refinance rates are 6.87% for 30-year and 6% for 15-year terms.
- These rates represent a significant increase compared to 2025 and early 2026.
- Borrowers may still find value in refinancing if it offers a substantial rate saving.
- Exploring rate lock options can protect against future rate hikes, with the possibility to float down if rates decrease.