Mortgage and refinance interest rates today, November 25, 2025: Lowest 30-year rate this year

Core Insights - Mortgage rates have seen fluctuations, with the average 30-year fixed-rate mortgage decreasing by five basis points to 6.06%, marking it as the lowest rate of 2025 [1] Current Mortgage Rates - The current national average for a 30-year fixed mortgage is 6.06% [15] - Other mortgage rates include: - 20-year fixed: 6.06% - 15-year fixed: 5.53% - 5/1 ARM: 6.16% - 7/1 ARM: 6.02% - 30-year VA: 5.55% - 15-year VA: 5.28% - 5/1 VA: 5.09% [5] Refinance Rates - The average refinance rate for a 30-year fixed mortgage is 6.20% [15] - Refinance rates are generally higher than purchase rates [3] Economic Context - Economists do not anticipate significant drops in mortgage rates before the end of 2025, despite recent cuts by the Federal Reserve [13][16] - The Federal Reserve has implemented rate cuts in 2025, with a potential for another cut before the year ends [14] Long-term Projections - Mortgage rates may ease slightly in 2026, but any decreases are expected to be modest, influenced by economic conditions and inflation [17]