Core Insights - Mortgage rates are not responding to the Federal Reserve's recent interest rate cut, with the average 30-year fixed mortgage rate at 6.13% and the 15-year fixed rate at 5.53% [1][18]. Current Mortgage Rates - The current national average mortgage rates include: - 30-year fixed: 6.13% - 20-year fixed: 6.08% - 15-year fixed: 5.53% - 5/1 ARM: 6.24% - 7/1 ARM: 6.31% - 30-year VA: 5.60% - 15-year VA: 5.14% - 5/1 VA: 5.36% [5][6]. Refinance Rates - Today's mortgage refinance rates are generally higher than purchase rates, with national averages rounded to the nearest hundredth [3]. Market Conditions - The current housing market is considered relatively favorable for buyers compared to previous years, as home prices are not experiencing the same spikes seen during the COVID-19 pandemic [16]. - Economists do not anticipate significant drops in mortgage interest rates before the end of the year, although minor fluctuations may occur [19]. Mortgage Rate Trends - Overall, mortgage rates have gradually decreased, with the 30-year fixed rate currently lower than it was one year ago [20].
Mortgage and refinance interest rates today, December 13, 2025: Rates barely react to the Fed's rate cut