Mortgage and refinance interest rates today, December 12, 2025: Rates remain well below the 52-week average

Core Insights - Mortgage rates are currently near their lowest levels since 2025, with the national average for a 30-year fixed mortgage at 6.22%, down from 6.60% a year ago [1][14] - The 15-year fixed mortgage rate is at 5.54%, compared to 5.84% last year [1][14] - Predictions indicate that mortgage rates will remain above 6% for most of 2026, with a slight dip to 5.9% expected in Q4 2026 [13][15] Current Mortgage Rates - The current national average rates include: - 30-year fixed: 6.22% [1][14] - 15-year fixed: 5.54% [1][14] - 20-year fixed: 5.98% [5] - 5/1 ARM: 6.23% [5] - 7/1 ARM: 6.37% [5] Mortgage Rate Trends - Mortgage rates have generally decreased since the end of May, remaining lower than the same period last year [13] - The Mortgage Bankers Association (MBA) forecasts a 30-year fixed rate of 6.3% for most of 2027, with a slight increase to 6.4% in Q4 2027 [17] Future Projections - Fannie Mae and MBA predict that the 30-year mortgage rate will stay at or above 6% for most of 2026, with a forecasted drop to 5.9% in Q4 2026 [13][15] - The MBA expects rates to remain relatively stable in 2027, with average rates near 6.3% [17]