Today's 30-year mortgage rates plummet while 15-year mortgage rates rise | May 1, 2024

As of May 1, 2024, the interest rate for a 30-year fixed-rate mortgage has decreased to 7.125%, a drop of 0.375 percentage points from the previous day. In contrast, the rate for a 15-year fixed-rate mortgage has increased slightly by 0.125 percentage points to 6.625%. These changes underscore the importance of regularly checking mortgage rates and comparing offers from different lenders to secure the best deal. Rates and terms can vary significantly, influenced by economic conditions, personal credit scores, and other factors.