Today's 30-year mortgage rates rise while 15-year mortgage rates drop | May 2, 2024

As of May 2, 2024, the 30-year fixed-rate mortgage interest rate has increased by 0.250 percentage points to 7.375%, while the 15-year fixed-rate mortgage has decreased by 0.125 percentage points to 6.500%. Credible Operations, Inc., emphasizes the importance of checking daily rate changes and comparing various lenders to secure the best mortgage terms. Additionally, understanding how mortgage rates are determined and the factors influencing them, such as economic conditions and personal creditworthiness, is crucial for potential borrowers.