Mortgage Interest Rates Forecast

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Updated · 1 min read
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Written by 
Lead Writer & Content Strategist
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Edited by 
Head of Content, Home Loans

Mortgage rates this week

Mortgage rates went up for the fourth week in a row in the week ending May 29, reaching their highest point since early May 2024.

  • The 30-year fixed-rate mortgage averaged 7.07% APR, up three basis points from the previous week's average, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.

  • The 15-year fixed-rate mortgage averaged 6.14% APR, up two basis points from the previous week's average.

  • The 5-year adjustable-rate mortgage averaged 7.25% APR, down seven basis points from the previous week's average.

High mortgage rates are keeping many potential buyers out of the market, creating a growing inventory of unsold homes. Sales of existing homes fell 0.5% last month, according to the National Association of Realtors’ latest report.

Mortgage loans from our partners

NBKC - PURCHASE logo
Check Rate

on NBKC

NBKC

4.5

NerdWallet rating 
NBKC - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on NBKC

New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

GO Mortgage - PURCHASE logo
Check Rate

on GO Mortgage

GO Mortgage

4.0

NerdWallet rating 
GO Mortgage - PURCHASE logo

4.0

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on GO Mortgage

Mortgage loans from our partners

NBKC - PURCHASE logo
Check Rate

on NBKC

NBKC

4.5

NerdWallet rating 
NBKC - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on NBKC

New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

GO Mortgage - PURCHASE logo
Check Rate

on GO Mortgage

GO Mortgage

4.0

NerdWallet rating 
GO Mortgage - PURCHASE logo

4.0

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on GO Mortgage

Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

Rocket Mortgage

4.5

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
580

Min. down payment 
3.5%

Check Rate

on Rocket Mortgage

Veterans United - PURCHASE logo
Check Rate

on Veterans United

Veterans United

5.0

NerdWallet rating 
Veterans United - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
620

Min. down payment 
0%

Check Rate

on Veterans United

May mortgage rate forecast

Mortgage rates are unpredictable even in times of economic and policy stability. The uncertainty is in beast mode in May. Will mortgage rates rise in response to inflation caused by higher tariffs? Could rates fall in concert with a slowing economy? Either could happen — or maybe May is too early for the effects of economic policy to be seen.

Rates haven't fluctuated much this month, but the standard advice is to avoid trying to time the market. You can't know when interest rates will be at their lowest. Buy a home when you're at a time in your life when you're ready to buy, you've found the right place, and you can afford it.

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