Mortgage and refinance interest rates today, November 19, 2025: Fluctuating but about where they were 2 weeks ago

Core Insights - Mortgage rates have seen a slight increase, with the average 30-year fixed rate rising to 6.15% and the 15-year fixed rate to 5.60% [1] - Current mortgage refinance rates are generally higher than purchase rates, although this is not always the case [3] - The Federal Reserve's stance indicates that mortgage rates are likely to remain stable in the near term, with no significant decreases expected [17] Mortgage Rates Overview - The national average mortgage rates are as follows: - 30-year fixed: 6.15% - 20-year fixed: 5.97% - 15-year fixed: 5.60% - 5/1 ARM: 6.28% - 7/1 ARM: 6.03% - 30-year VA: 5.60% - 15-year VA: 5.26% - 5/1 VA: 5.25% [4] Adjustable-Rate Mortgages (ARMs) - ARMs offer lower initial rates compared to fixed-rate mortgages, but they come with the risk of rate increases after the introductory period [12][13] - The 5/1 ARM locks in the rate for the first five years, after which it adjusts annually [12] Pros and Cons of Mortgage Types - 30-year fixed mortgages provide lower and predictable monthly payments but result in higher total interest paid over the loan's life [7][9] - 15-year fixed mortgages have higher monthly payments but lower interest rates, leading to significant savings in interest over time [10][11] Market Trends - Mortgage rates have generally trended lower over the past few months, but they remain above last year's levels [18] - The Federal Reserve's potential interest rate cut in December may not lead to a significant drop in mortgage rates [17]