Mortgage and refinance interest rates today, December 16, 2025: Rates hold steady

Core Insights - Mortgage rates have stabilized since mid-October, with the average 30-year rate at 6.08% and the 15-year rate at 5.58% [1][15] - The current mortgage refinance rates are generally higher than purchase rates, with the 30-year refinance rate at 6.12% [3][15] Mortgage Rates Overview - Current national average mortgage rates include: - 30-year fixed: 6.08% - 20-year fixed: 5.98% - 15-year fixed: 5.58% - 5/1 ARM: 6.28% - 7/1 ARM: 6.22% - 30-year VA: 5.63% - 15-year VA: 5.16% - 5/1 VA: 5.45% [5] Refinance Rates - Current national average refinance rates include: - 30-year fixed: 6.12% - 20-year fixed: 6.05% - 15-year fixed: 5.57% - 5/1 ARM: 6.26% - 7/1 ARM: 6.41% - 30-year VA: 5.74% - 15-year VA: 5.39% - 5/1 VA: 5.44% [6] Long-term Rate Predictions - Economists do not anticipate significant drops in mortgage rates before the end of 2026, with the MBA forecasting a 30-year mortgage rate near 6.4% through 2026 [14][16] - Fannie Mae predicts a 30-year rate above 6% for the next year, potentially decreasing to 5.9% in Q4 2026 [16] - For 2027, the MBA expects rates to average 6.3% before rising to 6.4% in Q4, while Fannie Mae forecasts rates near 5.9% for the entire year [18]