Mortgage and refinance interest rates today, November 9, 2025: Check the low rates and sample monthly payments

Core Insights - The current average 30-year fixed mortgage rate is 6.15%, which is at its lowest point in a year, prompting more individuals to consider mortgage refinancing [1][18][19] - Mortgage refinance rates are generally higher than purchase rates, but this is not always the case [3][5] Current Mortgage Rates - The national average mortgage rates are as follows: - 30-year fixed: 6.15% - 20-year fixed: 5.97% - 15-year fixed: 5.57% - 5/1 ARM: 6.38% - 7/1 ARM: 6.45% - 30-year VA: 5.69% - 15-year VA: 5.25% - 5/1 VA: 5.70% [5][6] Refinance Interest Rates - Today's mortgage refinance rates are also provided as national averages, which are rounded to the nearest hundredth [3][5] Fixed vs. Adjustable-Rate 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 based on market conditions [11][12] - ARMs typically start with lower rates than fixed rates, but fixed rates have recently been competitive [13] Mortgage Payment Calculations - For a $300,000 mortgage at a 30-year term with a 6.15% rate, the monthly payment would be approximately $1,828, with total interest paid over the loan's life being $357,966 [10] - Conversely, a 15-year mortgage at a 5.57% rate would result in a monthly payment of about $2,462, with total interest paid being $143,233 [10] Factors Influencing Mortgage Rates - Lenders offer lower rates to borrowers with higher down payments, excellent credit scores, and low debt-to-income ratios [14][19] - It is suggested that focusing on personal finances may be more effective than waiting for rates to drop [15] Choosing a Mortgage Lender - To find the best mortgage lender, it is recommended to apply for preapproval with multiple companies within a short time frame to minimize the impact on credit scores [16] - When comparing lenders, the annual percentage rate (APR) should be considered as it reflects the true annual cost of borrowing [17]