30 Year Mortgage Rate Falls to 6.33% as 5/1 ARM Jumps

The 30 year mortgage rate fell 3 basis points to 6.33% on Sunday, May 31, 2026, while the 5/1 ARM rose 24 basis points to 6.45%. That left the most popular loan type slightly cheaper for buyers and refinance shoppers using Zillow lender marketplace averages, with figures rounded to the nearest hundredth.

Zillow’s 30-Year Move

6.33% is the current average for a 30-year fixed loan, and the rate is locked for the entire life of the mortgage. A 30-year term spreads payments over 360 months, which keeps the monthly bill lower than a shorter-term loan and helps explain why it remains the most common choice.

3 basis points is a small daily move, but it still changes the starting point for anyone pricing a purchase or refinance. On a $300,000 mortgage at 6.41%, the monthly principal-and-interest payment would be about $1,878.48, and total interest over the life of the loan would reach $376,254.

15-Year Fixed Holds at 5.79%

5.79% was unchanged for the average 15-year fixed mortgage, keeping that shorter term below the 30-year rate. On the same $300,000 loan amount, a 15-year mortgage at 5.80% would carry a monthly payment of $2,499.27 and total interest of $149,869 over the years.

24 basis points was the bigger move in Sunday’s snapshot, and it went the other way on the 5/1 ARM. The rate reached 6.45% after weeks of significant daily volatility, which makes that product harder to price from one day to the next than the fixed-rate loans beside it.

Refinance Shoppers Face the Spread

6.33% and 5.79% are national averages for borrowers comparing purchase and refinance options, and the source says refinance rates are often higher than rates when buying a house, though not always. For anyone shopping now, the immediate check is simple: compare the fixed-rate payment against the arm’s changing quote before locking anything in.