The day on which a Federal Reserve meeting is held can hold a lot of importance for borrowers, as the central bank's decision on interest rates can cause borrowing costs to rise or fall. And that's particularly true for homebuyers and owners looking to refinance, as the Fed is a big driver behind mortgage interest rates. But it's not just the hours before and after a formal decision is announced that count. The days after are also important as borrowers gain a new understanding of market conditions and lender responses to the Fed's moves, or lack thereof.

So while mortgage rates are always important to monitor for prospective borrowers, they became more important to keep track of on Wednesday, when the Fed announced it was keeping interest rates paused, its third such pause this year. But it's arguably even more important to monitor today and in the upcoming days as rates could reflect this pause more clearly, perhaps even in unexpected ways. Borrowers will also start to gain clarity on where rates could be heading in May, without a Federal Reserve meeting on the calendar to move them in either direction. 

So, where do mortgage interest rates stand now, as of April 30, 2026? That's what we'll examine below.

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What are today's mortgage interest rates?

The average mortgage interest rate on a 30-year mortgage is 6.37% as of April 30, 2026, according to Zillow. The average mortgage rate on a 15-year term is 5.75%. Both are higher than what they were on Wednesday and significantly higher than they were a week ago, when the 30-year option was just under 6%. That noted, these are just averages cited by a single source, so it is theoretically possible to find better, lower rates by shopping around online. But it will make sense to start this process promptly as this week's Fed rate pause, combined with other economic concerns, could cause today's rates to increase once again.

Compare your mortgage rate options online to learn more.

What are today's mortgage refinance rates?

The average mortgage refinance rate on a 30-year mortgage is 6.79% as of April 30, 2026, according to Zillow. The median refi rate on a 15-year loan is 5.63%. But does refinancing make sense with these new rates? The answer will depend largely on the current rate each homeowner has. It's usually considered advantageous to pursue if the new rate represents one that's a full percentage point below the existing one (though some owners may benefit from a rate differential that's less significant). 

It's also important to consider the long-term homeownership plans of the property being refinanced. Since owners will need to pay mortgage refinancing closing costs in this exchange, they'll typically want to plan to remain in the home long enough to recuperate those expenses. If they plan on selling before that break-even point, however, a refinance may be worth avoiding, even if today's rates would ultimately translate into a lower monthly payment.

The bottom line

The average mortgage interest rate on a 30-year mortgage is 6.37% as of April 30, 2026, and it is 5.75% for a 15-year alternative. The average refinance rate on a 30-year term, meanwhile, is now 6.79%, and it is 5.63% for a 15-year option. It's too soon to tell if these are the new rates borrowers can expect to see in the days and weeks to come, now that the April Fed meeting has concluded, or if they may change again shortly. 

Consider shopping around carefully, though, if these rates are close to what you need to support a purchase or refinance. And don't discount the benefits a lender can offer when you speak to them directly, as they may be able to outline alternative rates, terms and options that aren't always clearly listed online.