U.S. 30-Year Fixed Mortgage Rate Dips to 6.33% as ARMs Whipsaw

The average rate on a 30-year fixed mortgage fell 3 basis points to 6.33% on Sunday, May 31, 2026, according to Zillow’s lender marketplace, easing borrowing costs for home buyers. The 15-year fixed rate held steady at 5.79%. Meanwhile, the 5/1 adjustable-rate mortgage surged 24 basis points to 6.45%, highlighting persistent daily swings in ARM pricing. The gap between fixed and adjustable rates has narrowed, with some short-term fixed rates now lower than ARMs. The Mortgage Bankers Association expects 30-year rates to stay between 6.4% and 6.5% through 2026, while Fannie Mae forecasts 6.3% until year-end. Strong borrower finances, including high credit scores and down payments, remain key to securing the best rates.