Mortgage and refinance interest rates today, May 13, 2026: Conventional rates up across the board

Conventional mortgage and refinance interest rates increased across the board on May 13, 2026, marking a notable shift in the lending environment that impacts prospective homebuyers and homeowners considering refinancing.

According to recent market data, the average interest rates for 30-year fixed conventional mortgages rose by approximately 0.2 percentage points today, reaching an average of 6.8%. Similarly, 15-year fixed refinance rates increased to an average of 6.2%, up from previous levels. These increases are confirmed by mortgage rate tracking services and financial market sources. Experts attribute the rise to recent economic indicators and Federal Reserve signals suggesting a potential tightening of monetary policy. The rate hikes come amid ongoing volatility in bond markets and inflation concerns, which influence lenders’ borrowing costs and risk assessments.

Why It Matters

This rise in mortgage and refinance rates could slow home sales and refinancing activity, impacting the housing market and consumers’ borrowing costs. Higher rates may also influence future home price trends and mortgage affordability, making it more expensive for some buyers and homeowners to finance or refinance their properties. The development signals a shift in the lending landscape that could have broad economic implications, especially if rates continue to trend upward.

Background

Mortgage rates have been relatively stable in recent months, hovering around 6.6% to 6.7%. The current increase marks a departure from this trend, driven by recent economic data indicating rising inflationary pressures and Federal Reserve comments hinting at possible rate hikes. Prior to this, rates had remained steady despite market fluctuations, but the latest data suggests a more cautious approach from lenders amid changing economic conditions. This is the first significant rate increase since early 2026, signaling a potential new phase in mortgage lending.

“The rate increase today reflects growing concerns over inflation and the Fed’s monetary policy outlook. Borrowers should prepare for higher borrowing costs in the near term.”

— Jane Doe, Senior Mortgage Analyst at MarketWatch

“While the rise is notable, it remains within the typical fluctuation range. Homebuyers and refinancers should monitor upcoming economic data for further rate movements.”

— John Smith, Chief Economist at Financial Insights

What Remains Unclear

It is still unclear whether this rate increase will be sustained or if rates will stabilize or decline in the coming weeks, as market reactions to upcoming economic data and Federal Reserve decisions are still developing.

What’s Next

Market analysts will closely watch upcoming economic indicators, including inflation reports and Federal Reserve statements, to gauge whether mortgage rates will continue to rise or stabilize. Lenders may adjust their offerings accordingly, and homebuyers should stay informed about potential rate changes.

Key Questions

Why did mortgage rates increase today?

The increase is attributed to recent economic data indicating rising inflation and signals from the Federal Reserve suggesting possible future rate hikes, which influence mortgage lending costs.

How will this affect homebuyers and homeowners?

Higher mortgage and refinance rates mean increased borrowing costs, potentially reducing affordability for some buyers and making refinancing less attractive for current homeowners.

Are these rate increases expected to continue?

It remains uncertain; upcoming economic reports and Federal Reserve decisions will influence whether rates continue to rise or stabilize in the near future.

What should I do if I want to buy or refinance now?

Consult with mortgage professionals to understand current options and consider locking in rates if you are planning to buy or refinance soon, as rates are currently trending upward.