Mortgage and refinance interest rates today, November 6, 2025: Weekly rates are up, annual rates are down

Core Insights - Mortgage rates have increased slightly, with the average 30-year fixed mortgage rate rising to 6.22%, compared to 6.79% a year ago, while the 15-year fixed rate rose to 5.50% from 6.00% a year ago [1] Current Mortgage Rates - The current national average for a 30-year fixed mortgage is 6.15% [5] - The 30-year fixed mortgage rate has seen a slight increase to 6.30% in another report [6] Refinance Rates - Today's refinance rates show a trend where they can be higher than purchase mortgage rates, but this is not always the case [3][12] Mortgage Rate Determinants - Mortgage rates are influenced by both controllable factors, such as credit scores and down payments, and uncontrollable factors, primarily economic conditions [10][11] - Economic conditions dictate that when the economy is struggling, mortgage rates tend to decrease to encourage borrowing, while strong economic performance leads to higher rates [12] Types of Mortgages - Fixed-rate mortgages lock in the interest rate for the entire loan term, while adjustable-rate mortgages (ARMs) have a fixed rate for an initial period before adjusting periodically [8] - A 30-year fixed mortgage offers lower monthly payments but incurs more interest over time, whereas a 15-year fixed mortgage has higher monthly payments but lower overall interest costs [13][14] Historical Context - The lowest-ever 30-year fixed mortgage rate was recorded at 2.65% in January 2021, and it is unlikely to fall below 3% in the near future [17]