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Rates Just Took a Nasty Turn – Here’s What You Need to Know (May 13, 2026)

If you’ve been waiting for mortgage rates to cool off before refinancing your home, bad news: conventional rates are up across the board today. According to the latest data from the Zillow lender marketplace, both purchase and refinance rates saw significant jumps compared to yesterday.

Let’s cut to the chase. For folks looking to refinance, the 30-year fixed refinance rate climbed to 6.23% – that’s a noticeable hike. And it’s not just the 30-year. Nearly every loan type got more expensive overnight.

So, what’s going on? And more importantly, should you still pull the trigger on a refinance or wait it out? We’ll break it all down in plain English.

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Today’s Mortgage Rates (For Home Buyers):Mortgage Refinance Rates

Before we dive into refinance numbers, here’s where purchase rates stand on Wednesday, May 13, 2026, according to Zillow data. Remember, these are national averages:

Loan Type	Interest Rate
30-year fixed	6.26%
20-year fixed	6.22%
15-year fixed	5.76%
5/1 ARM	6.47%
7/1 ARM	6.30%
30-year VA	5.65%
15-year VA	5.23%
5/1 VA	5.15%

The biggest movers? The 20-year fixed shot up 16 basis points and the 5/1 ARM jumped 17 basis points. If you’re house hunting, today’s rates sting a little more than yesterday’s.

👉 Learn more about how mortgage rates are determined

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Today’s Mortgage Refinance Rates (The Real Story):Mortgage Refinance Rates

Now for the main event – refinance rates. If you already own a home and were hoping to lower your monthly payment, today’s numbers aren’t pretty. Here’s the latest from Zillow for May 13, 2026:

Loan Type	Refinance Rate
30-year fixed	6.23%
20-year fixed	6.24%
15-year fixed	5.66%
5/1 ARM	6.12%
7/1 ARM	5.94%
30-year VA	5.60%
15-year VA	5.21%
5/1 VA	5.26%

A few things to notice:

• Refinance rates are now higher than purchase rates for many loan types (though not all). That’s unusual – typically, refis cost a bit more, but the gap has widened.
• The 20-year fixed refi rate (6.24%) is actually higher than the 30-year refi rate (6.23%). That’s a head-scratcher, but it happens when markets move fast.
• VA loans still offer the lowest refi rates, with the 5/1 VA at just 5.15%. If you’re a veteran, that’s your best bet.

Pro tip: These are national averages. Your actual rate will depend on your credit score, home equity, location, and lender. Shop around!

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Use This Mortgage Calculator Before You Do Anything:Mortgage Refinance Rates

Don’t guess your monthly payment – crunch the numbers first. Bookmark the Yahoo Finance mortgage payment calculator to see how different rates and loan amounts affect your wallet.

The calculator lets you factor in:

• Private mortgage insurance (PMI) if you put down less than 20%
• Homeowners association (HOA) dues if applicable
• Property taxes and home insurance

A $300,000loanat6.23$300,000loanat6.231,845**. At 5.66% (15-year fixed), that jumps to about **$2,475\ast \ast permonth\text{–}butyou\text{’}llsaveover$2,475∗∗permonth–butyou’llsaveover100,000 in total interest. Trade-offs, people.

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30-Year vs. 15-Year Refinance: Which One Makes Sense Now?

Let’s talk real talk. With rates climbing, your decision between a 30-year and 15-year refinance matters more than ever.

30-Year Fixed Refinance – The Safe Bet

• Pros: Lower monthly payments, predictable rate for three decades.
• Cons: Higher interest rate (6.23% today) and you’ll pay way more interest over time.
• Best for: Homeowners who need cash flow flexibility and plan to stay put for 5+ years.

15-Year Fixed Refinance – The Wealth Builder

• Pros: Lower rate (5.66% today), pay off your home twice as fast, save tens of thousands in interest.
• Cons: Monthly payments are significantly higher.
• Best for: Homeowners with stable, high income who want to own their home free and clear by retirement.

Example: On a $250,000loan,the30-yearrefiat6.23$250,000loan,the30−yearrefiat6.231,537/month. The 15-year at 5.66% costs ~$2,062\mathrm{/}month\mathrm{.}Thatextra$2,062/month.Thatextra525/month saves you about $110,000 in total interest over the life of the loan. Not chump change.

👉 Should you get a 15-year or a 30-year mortgage? Compare side-by-side here

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Adjustable-Rate Mortgages (ARMs) – A Risky Gamble Right Now?

ARMs like the 5/1 and 7/1 are supposed to offer lower intro rates than fixed loans. But today? That’s flipped. According to Zillow, the 5/1 ARM refinance rate is 6.12% – higher than the 30-year fixed refi rate (6.23%? Wait, no – 6.23% fixed vs 6.12% ARM, actually ARM is slightly lower. Let me correct: 6.12% ARM is lower than 6.23% fixed. So ARMs still have a tiny edge.)

But here’s the catch: After the intro period (5 years for a 5/1 ARM), your rate can adjust annually. With rates trending up, you could get hammered later. Only consider an ARM if you’re 100% sure you’ll sell or refinance again before the adjustment period kicks in.

👉 Learn more: Adjustable-rate vs. fixed-rate mortgages

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Frequently Asked Questions (Because We Know You’re Sweating)

What’s the 30-year refinance rate right now?

As of today, May 13, 2026, the national average 30-year refinance rate is 6.23% according to Zillow’s lender marketplace. But your local rate could be higher or lower – for example, mortgage rates vary by state, with high-cost cities often seeing higher rates.

Are mortgage rates dropping?

Not today. Rates are on the rise after a brief dip. Remember, at the end of March, the 30-year fixed touched nearly 6.50%. Then rates dropped almost half a point. But compared to yesterday? Everything’s up. The 20-year fixed jumped 16 basis points – that’s a big one-day move.

How do I get the lowest refinance rate?

Same playbook as when you bought your home:

1. Boost your credit score – even 20 points can shave 0.25% off your rate.
2. Lower your debt-to-income ratio (DTI) – pay down credit cards and avoid new loans.
3. Consider a shorter term – 15-year refi rates are lower than 30-year (5.66% vs 6.23%).
4. Shop at least three lenders – rates vary wildly.

One more thing: Refinance rates are often higher than purchase rates, but that’s not a law of nature. If you have strong equity (20%+) and excellent credit, you might snag a deal.

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The Bottom Line for American Homeowners:Mortgage Refinance Rates

Look, nobody likes seeing rates jump. Today’s 7-basis-point hike on 30-year refinance rates (that’s the “7” in our headline) is a gut punch if you were on the fence. But don’t panic. Rates are still far below the 7-8% range we saw in late 2023. If you can lock a 30-year refi at 6.23% and shave $200 off your monthly payment, that’s real money in your pocket.

The smart move: Run your numbers through the Yahoo Finance mortgage calculator. If your break-even point (closing costs divided by monthly savings) is under 24 months, go for it. If not, wait for the next dip – but don’t hold your breath. Rates are volatile.

Data source: Zillow lender marketplace, May 13, 2026. National averages rounded to nearest hundredth.

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Federal Gas Tax Debate Intensifies Amid Iran War and Voter Pressure

President and congressional leaders are floating a temporary suspension of the federal gas tax as Americans grapple with sharply higher fuel prices linked to the ongoing conflict with Iran. The proposal aims to offer immediate relief at the pump, even as critics warn of budgetary and infrastructure trade-offs.

Gas prices nationwide have climbed to roughly $4.50 per gallon on average, heightening economic anxiety ahead of the 2026 midterm elections.

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Why Gas Prices Are Spiking: Iran Conflict and Global Supply Shock

The surge follows escalating tensions in the Middle East that have disrupted oil flows through critical shipping routes. Market volatility has driven crude prices higher, pushing U.S. gasoline costs toward levels not seen since 2022.

Key Drivers Behind the Price :How much is the federal gas tax

• Reduced oil movement through strategic waterways
• Heightened geopolitical risk premiums
• Seasonal demand increases as summer approaches

For many households, fuel has become a daily reminder of global instability.

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What Is the Federal Gas Tax and How a Suspension Would Work

The federal gas tax currently stands at 18.4 cents per gallon, unchanged since 1993. Revenues primarily fund highway construction, road maintenance, and some public transit projects.

Potential Impact of a Gas Tax Pause:How much is the federal gas tax

• Immediate per-gallon price reduction for drivers
• Short-term consumer relief during peak travel season
• Temporary revenue gaps for transportation programs

While the president has voiced support for a pause “for a period of time,” only Congress can authorize changes to federal taxes.

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Republican Lawmakers Signal Swift Action

Several GOP lawmakers have announced plans to introduce legislation that would suspend the tax, aligning with the White House’s call for relief. Supporters argue that easing fuel costs could help families manage inflation pressures and restore consumer confidence.

Political Stakes Are High:How much is the federal gas tax

• Midterm elections loom in November
• Polls show widespread dissatisfaction with prices
• Gasoline costs remain a visible economic barometer

The move underscores how energy prices often become a focal point during election cycles.

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Concerns and Criticism: The Negative Side of a Gas Tax Holiday

Opponents caution that suspending the tax could undermine long-term infrastructure funding and offer only modest savings if oil prices remain elevated. Transportation advocates also warn that deferred maintenance could raise costs later.

Questions Lawmakers Must Address

• How to backfill lost highway funding
• Whether savings reach consumers fully
• How long a suspension should last

These concerns ensure the proposal will face scrutiny as it moves through Congress.

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What Comes Next for Drivers and Policymakers:How much is the federal gas tax

As lawmakers debate the proposal, Americans are watching closely for signs of relief. A temporary gas tax suspension could shave several cents off each gallon, but broader price stability depends on global events beyond Washington’s control.

The outcome will test whether short-term economic relief can be balanced against long-term fiscal responsibility—at a moment when voters are demanding action.

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UFO Files Spark Fresh Debate Over Apollo 17’s Chilling Space Encounters

Newly released UFO files have reignited global fascination and concern after revealing that astronauts aboard witnessed unexplained lights and objects during their historic journey to the Moon in 1972. While the revelations offer thrilling insight into astronaut experiences, they also raise troubling questions that remain unresolved more than 50 years later.

The documents were made public as part of a large disclosure effort by the , adding credibility and renewed urgency to long-standing UFO discussions.

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Apollo 17 Astronauts Describe Fireworks-Like Objects in Space

According to transcripts included in the UFO files, the Apollo 17 crew reported seeing bright sparks, tumbling fragments, and mysterious dots outside their spacecraft—sights that left them both amazed and unsettled.

“Looks Like the Fourth of July”: A Chilling Astronaut Account

Command module pilot described seeing luminous particles drifting past the spacecraft as it maneuvered. Lunar module pilot offered one of the most striking descriptions, saying the view outside the window resembled fireworks lighting up the sky.

Mission commander , the last man to walk on the Moon, later reported difficulty sleeping after observing intense flashing lights he compared to an oncoming train headlight—an image that still fuels speculation today.

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NASA Photos Reveal Mysterious Triangular Objects

Among the released materials is a magnified photograph from December 1972 showing three bright dots arranged in a triangular formation in the lunar sky. Analysts noted that the anomaly appears to be a physical object, though no official explanation has been agreed upon.

No Consensus, Only Questions

The Pentagon emphasized that there is “no consensus” on what the astronauts observed. While the findings stop short of confirming extraterrestrial origins, they acknowledge that the phenomena cannot be easily dismissed as optical illusions.

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Apollo 11 Files Add to the Mystery

The UFO files also include debriefing transcripts from , where astronaut described seeing unexplained light sources during the mission.

Aldrin recounted observing flashes inside the cabin while trying to sleep and even mentioned a bright external light he tentatively believed could have been a laser—another detail that deepens the mystery surrounding early space exploration.

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Pentagon Promises More UFO Files Ahead

Officials confirmed that additional UFO-related documents and videos will be released on a rolling basis, keeping both skeptics and believers watching closely. While these disclosures offer transparency, they also highlight how much remains unknown about what astronauts may have encountered beyond Earth.

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Why These UFO Files Matter Today

The Apollo-era sightings represent a rare intersection of human exploration, advanced technology, and unexplained phenomena. For some, the files inspire hope that science may one day provide answers. For others, they underscore a troubling reality: even humanity’s greatest explorers faced mysteries they could not explain.

As interest in UFO files continues to surge, these revelations ensure that the Apollo missions remain not just milestones of achievement—but also chapters of enduring cosmic mystery.

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