Core Insights - Mortgage rates remain stable, with the average 30-year fixed rate at 6.11% and the 15-year fixed rate slightly increasing to 5.52% [1] - Realtor.com projects that the average 30-year mortgage rate will decrease to approximately 6.3% by 2026, down from 6.6% in 2025 [1] Current Mortgage Rates - The current national average mortgage rates include: - 30-year fixed: 6.11% - 15-year fixed: 5.52% - 5/1 ARM: 6.25% - 7/1 ARM: 6.33% - 30-year VA: 5.56% - 15-year VA: 5.14% [5] - Recent data shows slight variations in rates, with the 30-year fixed at 6.18% and the 15-year fixed at 5.65% in a different report [6] Mortgage Rate Trends - Mortgage rates have shown fluctuations but have generally trended lower over the past months, with current rates below those from a year ago [18] - The Federal Reserve's stance on interest rates suggests that significant decreases in mortgage rates are unlikely in the near term [17] Mortgage Types and Characteristics - A 30-year fixed mortgage offers lower monthly payments and predictable costs, but comes with higher interest over the loan's life compared to shorter terms [8][10] - A 15-year fixed mortgage has higher monthly payments but lower interest rates, allowing borrowers to pay off their loans faster and save on interest [11][12] - Adjustable-rate mortgages (ARMs) offer lower initial rates but can lead to unpredictable payments after the introductory period [13][14]
Mortgage and refinance interest rates today, December 3, 2025: Forecast says rates to be slightly lower in 2026