Just looked back at the May 2023 mortgage rates snapshot and it's interesting how things were moving back then. The benchmark 30-year fixed was sitting at 6.85% with APR at 6.86%, while 15-year fixed rates were around 6.16%. Those May 2023 mortgage rates felt pretty elevated compared to where they'd been earlier in the year.

What caught my attention was the spread between different loan types. Jumbo mortgages were at 6.94% while 5/1 ARMs were lower at 5.76%—that gap probably made some borrowers think twice about their options. On a $100k loan, you're looking at roughly $655/month for the 30-year at those rates, which adds up to serious interest over time.

The 52-week ranges from that period show rates had been bouncing around quite a bit. The low was 5.26% for 30-year fixed, so May 2023 mortgage rates were definitely on the higher end of that range. Interesting to see how rate environments shift—definitely worth tracking if you're monitoring lending trends or thinking about historical comparisons in the housing market.