Mortgage and refinance interest rates today, September 19, 2025: Lowest rates since last October

Core Insights - Mortgage rates have reached their lowest levels since early October of the previous year, with the national average 30-year rate at 6.26% and the 15-year fixed rate at 5.41% [1][15] - The decrease in mortgage rates has led to a significant increase in refinancing activity, with nearly 60% of mortgage applications being for refinancing, the highest level since January 2022 [2] Current Mortgage Rates - The current national average mortgage rates include: - 30-year fixed: 6.26% - 15-year fixed: 5.41% [1][15] - Additional mortgage refinance rates are generally higher than purchase rates, indicating a trend in the market [4] Market Trends - Mortgage rates have remained stable or decreased over the past nine weeks, with expectations that they will stay around 6% through 2026 according to forecasts from Fannie Mae and the Mortgage Bankers Association [13][16] - The industry anticipates that mortgage rates will not significantly increase, remaining close to current levels [17]