Today's Mortgage Rates, May 9: 30‑year Frm Rises Back Into the Mid-6% Range

May 9, 2026 - 19:16

Mortgage rates climbed again on Thursday, with the 30-year fixed-rate loan pushing back into the mid-6% territory. According to the latest data, the average rate for a 30-year fixed mortgage now sits at 6.25%, up from 6.12% earlier this week. The 20-year fixed rate also rose, landing at 5.95%, while the 15-year fixed rate ticked up to 5.66%.

This upward drift comes as fresh economic reports show inflation staying stubbornly above the Federal Reserve's target. Consumer prices rose 0.3% last month, slightly higher than analysts had expected. That news dampened hopes for a rate cut anytime soon, and lenders responded by adjusting their offerings.

For homebuyers, the higher rates add to an already difficult affordability picture. The monthly payment on a median-priced home with a 30-year fixed loan is now roughly $200 more than it was just two months ago. Many buyers are pulling back, waiting for signs that rates will stabilize or drop. Real estate agents report a noticeable slowdown in showings and open house traffic compared to last spring.

The bond market also reacted to the inflation data, with the yield on the 10-year Treasury note climbing to 4.52%. Mortgage rates tend to follow that yield closely. Unless the next jobs report or consumer spending data shows a clear slowdown, rates could stay in this range for the rest of the month.