Mortgage Rates May 1 2024au. The average interest rate, per the most current data available as of this writing, is 6.500%. The fed has kept this rate elevated for all of 2024, and it's a big factor in why mortgage rates — and rates on other financial products — have stayed high as well.

In june 2024, the consumer price index rose 3.0% year. We take a look at what’s in store for interest rates in 2024.