Core Insights - Mortgage rates are nearing a drop below 6%, with the average 30-year fixed rate currently at 6.04%, down two basis points, which could lead to increased purchase and refinance applications [1][16] - The 15-year fixed home loan rate has decreased by six basis points to 5.47% [1] Current Mortgage Rates - The current national average mortgage rates include: - 30-year fixed: 6.04% - 20-year fixed: 5.84% - 15-year fixed: 5.47% - 5/1 ARM: 6.16% - 7/1 ARM: 6.12% - 30-year VA: 5.36% - 15-year VA: 4.96% - 5/1 VA: 4.91% [5] Mortgage Rate Trends - Mortgage rates have shown a general downward trend over the past couple of months, with current rates lower than they were a year ago [18] - Future mortgage rates are expected to remain within a tight range, with the Federal Reserve indicating that another interest rate cut is not guaranteed [17] Refinance Rates - Mortgage refinance rates are typically higher than purchase rates, although this is not always the case [3] - To secure a low refinance rate, improving credit scores and lowering debt-to-income ratios are recommended strategies [19]
Mortgage and refinance interest rates today, November 26, 2025: 30-year rates dip as pending home sales rise