Mortgage and refinance interest rates today for December 15, 2025: Not much movement since the end of October

Core Insights - Mortgage rates are stable, with the 30-year fixed rate at 6.13% and the 15-year fixed rate at 5.53% despite a recent interest rate cut by the Federal Reserve [1][17][19] Current Mortgage Rates - The national average for the 30-year fixed mortgage rate is 6.13% [1][17] - The 15-year fixed mortgage rate stands at 5.53% [1][17] - Adjustable-rate mortgages (ARMs) such as the 5/1 ARM are currently at 6.24% [1][17] Refinance Rates - Refinance rates are generally higher than purchase rates, with the current 30-year fixed refinance rate at 6.13% and the 15-year fixed refinance rate at 5.53% [4][3] Monthly Payments - For a $300,000 mortgage at a 30-year term with a 6.13% rate, the monthly payment would be approximately $1,824, resulting in $356,569 in interest over the loan's life [7] - A $300,000 mortgage at a 15-year term with a 5.53% rate would have a monthly payment of $2,456, with total interest paid amounting to $142,085 [9] Adjustable-Rate Mortgages - ARMs, such as the 5/1 ARM, have lower initial rates but can increase after the introductory period [10][11] - Current ARM rates are sometimes comparable to fixed rates, necessitating careful comparison when selecting a mortgage type [12] Factors Influencing Mortgage Rates - Lenders typically offer lower rates to borrowers with higher down payments, excellent credit scores, and low debt-to-income ratios [13] - Options for reducing interest rates include paying for discount points at closing or utilizing temporary buydowns [14][15] Future Rate Predictions - The Mortgage Bankers Association (MBA) forecasts the 30-year mortgage rate to remain around 6.4% through 2026, while Fannie Mae predicts rates above 6% into next year, potentially dropping to 5.9% by Q4 2026 [19]