finance
Average 30-Year Mortgage Rate Falls to 6.25 Percent on May 11 2026
The average 30-year mortgage rate stood at 6.25 percent and the 15-year rate at 5.75 percent as of May 11 2026 according to Zillow. Refinance rates were slightly higher at 6.57 percent for 30-year loans. Rates have improved from a year ago but remain above mid-April levels as borrowers await an inflation report due Tuesday.
May 11, 9:41 AM·2m read3 sources
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The average mortgage interest rate on a 30-year mortgage is 6.25 percent as of May 11 2026 according to Zillow. The average rate on a 15-year term is 5.75 percent. Both figures edged lower in recent days yet sit above the 5.99 percent and 5.50 percent recorded in mid-April.
Borrowers willing to pay points upfront may secure rates around 50 basis points below those averages. Such fees paid to the lender can lower the interest rate but require evaluating whether the long-term savings justify the immediate cost. Shopping among multiple lenders remains one of the most effective ways to find competitive offers.
Refinance rates followed a similar pattern. The average 30-year mortgage refinance rate reached 6.57 percent while the 15-year refi rate stood at 5.59 percent. Industry guidance suggests refinancing often makes financial sense when a borrower can reduce their rate by at least half a percentage point after accounting for closing costs.
Those costs can offset some of the expected savings from a lower rate. Borrowers must weigh the expense of a new loan against the monthly reduction and the length of time they plan to hold the mortgage. Lenders can provide personalized calculations to clarify break-even timelines.
Rates have improved compared with levels seen in May 2025 and May 2024. The absence of a Federal Reserve meeting this month has shifted attention to other economic signals. An inflation reading scheduled for release Tuesday could influence lender pricing in the days ahead.
If the report shows a meaningful decline from the previous surge it may ease pressure on mortgage rates without requiring action from the Fed. Lenders do not need to wait for a central bank rate cut before adjusting their own offerings to borrowers.
Online comparison tools allow borrowers to view current offers from different institutions. Spending time shopping can still yield a rate roughly half a percentage point below published averages. Speaking directly with lenders helps clarify available mortgage point options for any specific financial situation.
