Mortgage and refinance interest rates today, December 14, 2025: Rates are holding steady

Core Insights - Mortgage rates are currently stable, with the average 30-year fixed mortgage rate at 6.13% and the 15-year fixed rate at 5.53% [1][18][19] Current Mortgage Rates - The national average for the 30-year fixed mortgage rate is 6.13% and for the 15-year fixed mortgage rate is 5.53% [1][18] - Other mortgage rates include: - 20-year fixed: 6.08% - 5/1 ARM: 6.24% - 7/1 ARM: 6.31% - 30-year VA: 5.60% - 15-year VA: 5.14% [5] Refinance Rates - Current mortgage refinance rates are generally higher than purchase rates, but this is not always the case [3] Mortgage Payment Calculations - A $300,000 mortgage at a 30-year term with a 6.13% rate results in a monthly payment of approximately $1,824, with total interest paid over the loan's life being $356,569 [9] - The same mortgage at a 15-year term with a 5.53% rate results in a monthly payment of $2,456, with total interest paid being $142,085 [9] Fixed vs. Adjustable-Rate Mortgages - 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 [10][11] - ARMs typically start with lower rates than fixed rates, but rates may increase after the initial period [12] Factors for Low Mortgage Rates - Lenders offer lower rates to borrowers with higher down payments, excellent credit scores, and low debt-to-income ratios [13] - Improving personal finances is suggested as a better strategy than waiting for rates to drop [14] Choosing a Mortgage Lender - It is advisable to apply for mortgage preapproval with multiple lenders within a short time frame for accurate comparisons [15] - When comparing lenders, the annual percentage rate (APR) should be considered as it reflects the true annual cost of borrowing [16][17]