What are today's mortgage interest rates: May 1, 2026?

MoneyWatch: Managing Your Money What are today's mortgage interest rates: May 1, 2026? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson May 1, 2026 / 8:03 AM EDT / CBS News Add CBS News on Google Homebuyers and owners looking to refinance should begin by familiarizing themselves with today's average mortgage interest rates. Xacto/Getty Images A new month could offer many borrowers a fresh start. And that's exactly what borrowers need this May, especially homebuyers and owners looking to refinance their loans. Mortgage interest rates were volatile in April. They started the month high, briefly dropped below 6% and then surged again after the Federal Reserve elected to keep interest rates paused this week. At the same time, there is no Fed meeting on the calendar for May, removing a potent driver behind mortgage interest rates. And, depending on the results of this month's unemployment and inflation reports, there could even be reasons for rates here to decline again.At the same time, waiting for mortgage interest rates to fall is always risky. And for borrowers who can float their rate down, it's not even necessary. Instead, locking one of today's imperfect rates may be the better move to protect against the market unknowns still ahead. To better decide on the value of a mortgage rate lock now, it helps to know where mortgage interest rates stand as of May 1, 2026. Below, we'll outline all of the numbers borrowers need to know to best determine their next move.Start by seeing how low your cur...