Mortgage and refinance interest rates today, December 11, 2025: Just above the 2025 low

Mortgage Rate Trends - Mortgage rates have generally fallen since late May, bottoming out at the end of October, and have remained within a 10 basis point range since then, with the average 30-year fixed mortgage rate at 6.15% and the 15-year fixed rate at 5.57% [1] Current Mortgage Rates - Current national average mortgage rates include: 30-year fixed at 6.15%, 20-year fixed at 6.01%, 15-year fixed at 5.57%, 5/1 ARM at 6.21%, and 7/1 ARM at 6.30% [4] - Refinance rates can be higher than purchase mortgage rates, but this is not always the case [3] Mortgage Rate Types - Two basic types of mortgage rates are fixed and adjustable rates. A fixed-rate mortgage locks in the rate for the entire loan term, while an adjustable-rate mortgage changes periodically after an initial fixed period [7] - A 30-year fixed mortgage is popular for its lower monthly payments but has a higher interest rate compared to shorter terms, while a 15-year fixed mortgage has a lower rate and less interest paid over time but higher monthly payments [12][13] Factors Influencing Mortgage Rates - Mortgage rates are influenced by controllable factors such as comparing lenders and personal financial metrics like credit scores and debt-to-income ratios, as well as uncontrollable factors like the overall economy [9][10] - In a struggling economy, mortgage rates tend to decrease to encourage borrowing, while in a strong economy, rates typically increase to temper spending [11] Refinancing Considerations - Experts suggest refinancing when a new rate is at least 1% to 2% lower than the current mortgage rate, depending on individual financial goals and break-even points after closing costs [17]