Mortgage and refinance interest rates today, November 30, 2025: The 6% 30-year mortgage is back, could 5% be next?

Core Insights - Current national average mortgage rates show a 30-year fixed rate at 6.00% and a 15-year fixed rate at 5.50%, indicating a competitive lending environment for borrowers [1][19][20] - The importance of comparing multiple lenders is emphasized, as rates can vary significantly [1][19] Current Mortgage Rates - The latest Zillow data indicates the following national average mortgage rates: - 30-year fixed: 6.00% - 15-year fixed: 5.50% - 20-year fixed: 5.86% - 5/1 ARM: 6.11% - 7/1 ARM: 6.15% [5][19] Refinance Rates - Mortgage refinance rates are generally higher than purchase rates, but current averages are not specified in the provided data [3] Fixed vs. Adjustable Rates - 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] - Recent trends show that some fixed rates are starting lower than adjustable rates, which is atypical [13] Choosing a Mortgage Lender - To secure the best mortgage rates, borrowers should seek preapproval from multiple lenders within a short timeframe to minimize the impact on their credit score [16] - It is crucial to compare the annual percentage rate (APR) alongside interest rates to understand the true cost of borrowing [17][18] Factors Influencing Mortgage Rates - Higher down payments, excellent credit scores, and low debt-to-income ratios typically lead to lower mortgage rates [14][20] - Current trends suggest that waiting for rates to drop may not be the best strategy; focusing on personal financial health is recommended [15]