So I was looking back at mortgage rates from May 2023, and it's interesting to see where things were back then. The 30-year fixed was hovering around 6.85% with an APR of 6.86%—that was considered pretty stable at the time, only down slightly from 6.90% the day before. If you'd taken out a $100,000 mortgage at those rates, you'd be looking at roughly $655 monthly in principal and interest.

The 15-year options were a bit lower at 6.16% APR, which meant about $853 monthly on the same loan amount. What caught my eye was the jumbo mortgage rates in May 2023—those were at 6.94%, not too far off from the standard 30-year rates. For anyone considering a $750,000 jumbo loan back then, monthly payments would've hit around $4,965.

Interestingly, the 5/1 ARMs offered some relief at 5.76%, which would've meant $584 monthly on a $100,000 loan. Looking back at mortgage rates in May 2023, the 52-week lows and highs show the volatility was real—the 30-year had dipped to 5.26% at its low point but hit higher levels too.

What's worth noting is how mortgage rates in May 2023 compared to where they'd been just a week prior. The 30-year was at 6.93% the week before, so there was some slight downward movement. The APR matters because it's the real all-in cost—not just the interest rate but all the fees wrapped in. That's why understanding the full picture of mortgage rates in May 2023 was important for anyone shopping around back then. Pretty different landscape from what we're seeing now in 2026.