Zillow Mortgage Rates Climb: 30-Year Fixed Hits 6.55%, 5/1 ARM at 6.80%
Z•Zillow's lender marketplace on May 21 saw its 30-year fixed mortgage rate climb 5 basis points to 6.55%, the highest since August 2025, while the 20-year fixed rate jumped 12 bps to 6.54% and the 5/1 ARM rose to 6.80%. Refinance rates also edged up, with 30-year fixed at 6.50%.
1. Rising Rates Across Fixed and Adjustable Loans
Mortgage rates on Zillow's lender marketplace climbed on May 21, with the 30-year fixed rate up 5 basis points to 6.55%, the 20-year fixed rate rising 12 bps to 6.54%, the 15-year fixed at 6.02%, and the 5/1 ARM up 11 bps to 6.80%.
2. Refinance Rates Also Increase
Refinance rates on Zillow's platform advanced, with 30-year fixed loans at 6.50%, 20-year fixed at 6.47%, 15-year fixed at 5.97%, and the 5/1 ARM at 6.33%, narrowing the spread between purchase and refinance costs.
3. Implications for Zillow's Mortgage Business
Steeper borrowing costs may deter consumers from refinancing or purchasing through Zillow's lender marketplace, potentially dampening mortgage application volumes and reducing referral revenue if elevated rates persist.
