Mortgage Rates Reverse Course;
30-Year Fixed Rises to 6.136% After Four-Week Slide
Week Ending May 04, 2026

All 9 tracked mortgage products moved higher this week, breaking a four-week decline streak. The benchmark 30-year fixed climbed 0.042 points to 6.136%, while FHA, VA, and 30-year jumbo posted similar moves. Three products barely participated — the 5/1 ARM, 15-year jumbo, and 15-year fixed each moved 0.012 points or less.

📊 Full week-over-week data for all 9 mortgage loan products tracked by MonitorBankRates.com.

NATIONAL — National mortgage rates rose across all 9 tracked products for the week ending May 04, 2026, breaking a four-week decline streak. 30-year fixed mortgage rates climbed 0.042 points to 6.136%, recouping a portion of the 0.298-point decline recorded over the previous four weeks. The 30-year fixed has now retraced about 14% of that drop. FHA, VA, and 30-year jumbo products posted similar increases in the 0.044 to 0.073 range. Three products barely moved: the 5/1 ARM ticked up just 0.002 points, the 15-year jumbo gained 0.005 points, and the 15-year fixed rates rose 0.012 points.

Fixed-rate conventional products diverged sharply. The 30-year fixed's 0.042 point rise to 6.136% was the largest move on the conforming side, while 15-year fixed rates added only 0.012 points to 5.738%. The 30-to-15 fixed spread widened to 0.398 percentage points, up from 0.368 last week, as the longer-duration product repriced more aggressively in response to the week's Treasury moves. For borrowers tracking the benchmark, the cumulative five-week trajectory is now a net decline of 0.256 points from where the 30-year fixed stood the week of March 29.

The ARM segment told a different story. 5/1 ARM rates were essentially flat at 5.729%, up just 0.002 points — the smallest move of any product this week. 7/1 ARM rates rose 0.032 points to 5.831%. The 3/1 ARM jumped 0.209 points to 5.890%, the largest single-product move of the week, though that figure sits on a narrower coverage base than the other ARM tenors and should be read with that caveat. The 5/1 ARM-to-30-year-fixed spread widened to −0.407 percentage points from −0.367, restoring more of the traditional ARM advantage as the conforming benchmark moved while the 5/1 held flat. For borrowers who held off during the recent four-week decline waiting for a better entry point, this week's reversal raises the question of whether to consider refinancing at current levels or wait for another pullback.

Jumbo products held the inversion patterns established during the prior week's decline. 30-year jumbo rates rose 0.044 points to 6.145%, leaving the jumbo-to-conforming spread on the 30 essentially unchanged at 0.009 percentage points. 15-year jumbo rates moved just 0.005 points to 5.681% — barely a move. The 15-year jumbo at 5.681% remains 0.057 points below the 15-year fixed conforming at 5.738%, an inversion that widened slightly this week as the 15-year fixed moved more than the 15-year jumbo. Both jumbo signals continue to point to elevated bank competition for high-balance portfolio loans, particularly at the 15-year tenor.

Government-backed products posted the week's largest moves on the fixed side. FHA rates rose 0.050 points to 5.785%, while VA rates jumped 0.073 points to 5.954%, the largest weekly increase among well-covered products. The FHA-to-VA gap widened further to 0.169 points from 0.146 last week. After holding remarkably steady through the four-week decline, VA rates have now caught up, while FHA continues to drift in the same direction as the conventional benchmark. Both government products remain priced below the conventional 30-year fixed, preserving their value for eligible borrowers.

After four straight weeks of declines, mortgage rates reversing higher this week is a meaningful directional change — though the magnitude is modest. The 30-year fixed at 6.136% sits 0.042 points above last week's cycle low but remains 0.256 points below the 6.392% recorded the week of March 29. The reversal aligns with a small back-up in Treasury yields over the past several days as some of the tariff-related volatility that fueled the prior decline began to ease, and as economic data prints came in stronger than expected. Whether this is a one-week correction or the start of a sustained move higher will depend largely on Treasury direction and on how aggressively institutions reprice through the rest of May.

The pattern of selective participation is the more interesting signal. Three products — the 5/1 ARM, 15-year jumbo, and 15-year fixed — barely moved this week, suggesting institutions are not yet repricing all parts of their book uniformly. The 15-year jumbo at 5.681% holds its inversion against the 15-year fixed conforming, and the 30-year jumbo remains near parity with the 30-year fixed. These tight spreads point to continued bank appetite for high-balance portfolio paper. For borrowers, the takeaway is that loan-shopping diligence still matters: the spread between the cheapest and most expensive product type on the curve is wider than it looks at the headline level. Track how rates across all 9 products evolve through weekly mortgage rate movements.