Zillow Shows 30-Year Mortgage Rate at 6.62%, 30-Year Refi at 6.87%
Updated
Updated · CBS New York · May 21
Zillow Shows 30-Year Mortgage Rate at 6.62%, 30-Year Refi at 6.87%
2 articles · Updated · CBS New York · May 21
Summary
Zillow pegged the average 30-year mortgage rate at 6.62% on May 21, with the 15-year purchase rate at 6.0%.
Refinancing remained costlier: the average 30-year refi rate was 6.87%, while the 15-year refi rate matched purchase loans at 6.0%.
Those levels are still well above much of 2025 and early 2026, erasing much of last year's roughly 1-percentage-point improvement in borrowing costs.
The report said hopes for further Fed rate cuts have faded, leaving borrowers to shop aggressively and consider locking rates before any additional increases.