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The national average 30-year mortgage rate is 6.50% right now, according to data compiled from the Zillow lender marketplace.

But keep in mind that averages can vary depending on where you live.

For example, mortgage rates vary by state, and if you're buying in a city with a high cost of living, rates could be higher.

Are mortgage rates dropping? Not today, rates are on the rise.

The 30-year fixed-rate rose 9 basis points to 6.50%. The 20-year fixed loan increased by 3 basis points to 6.42%.

The 15-year fixed loan rose 15 basis points to 5.99%. The 5/1 ARM increased 19 basis points to 6.69%.

How do I get the lowest refinance rate? In many ways, securing a low mortgage refinance rate is similar to when you bought your home.

Try to improve your credit score and lower your debt-to-income ratio (DTI).

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Refinancing into a shorter term will also land you a lower rate, though your monthly mortgage payments will be higher.

Other schedules to note

  • May 20, 2026 - 17:20
  • The benchmark 30-year fixed loan surged by 9 basis points to reach 6.50 percent, while the 20-year fixed alternative went up by 3 basis points to hit 6.42 percent.
  • Shorter-term options and adjustable products also observed noticeable growth, with the 15-year fixed loan jumping 15 basis points to 5.99 percent and the 5/1 ARM escalating 19 basis points to 6.69 percent.
  • Government-backed options present slightly lower averages, with the 30-year VA loan positioned at 5.91 percent, the 15-year VA loan at 5.63 percent, and the 5/1 VA option at 5.65 percent.
  • The remaining adjustable products show the 7/1 ARM tracking at an average of 6.32 percent across the marketplace.
  • The current refinance marketplace locations put the 30-year fixed option at 6.47 percent and the 20-year fixed product at 6.34 percent.
  • Refinancing into a 15-year fixed timeline stands at 6 percent flat, while the 5/1 ARM sits at 6.48 percent, the 7/1 ARM at 6.20 percent, the 30-year VA at 5.89 percent, the 15-year VA at 5.5 percent, and the 5/1 VA at 5.
  • Home Equity Loan and HELOC Rates Drop as Prime Rate Hits 6.75 Percent
  • 30-Year Fixed6.50%6.47%
  • 20-Year Fixed6.42%6.34%
  • 15-Year Fixed5.99%6.00%
  • 5/1 ARM6.69%6.48%
  • 7/1 ARM6.32%6.20%
  • 30-Year VA5.91%5.89%
  • 15-Year VA5.63%5.50%
  • 5/1 VA5.65%5.53%