Mortgage and refinance interest rates today, December 18, 2025: Mortgage rates remain calm

Mortgage Rates Overview - Current average mortgage rates are stable, with the 30-year fixed rate at 6.05% and the 15-year fixed rate at 5.52% [1] - The 20-year fixed rate is slightly higher at 6.06%, while adjustable-rate mortgages (ARMs) like the 5/1 ARM and 7/1 ARM are at 6.31% and 6.30% respectively [6] Mortgage Refinance Rates - Today's refinance rates show a similar trend, with the 30-year fixed refinance rate at 6.18% and the 15-year fixed refinance rate at 5.62% [7] - Refinance rates can sometimes be higher than purchase mortgage rates, indicating variability in the market [3] Factors Influencing Mortgage Rates - Mortgage rates are influenced by both controllable and uncontrollable factors, including borrower credit scores, debt-to-income ratios, and overall economic conditions [10][11] - A strong economy typically leads to higher mortgage rates, while a struggling economy may result in lower rates to encourage borrowing [12] Types of Mortgages - Fixed-rate mortgages lock in the interest rate for the entire loan term, while adjustable-rate mortgages have an initial fixed period followed by periodic adjustments [8] - The 30-year fixed mortgage is popular for its lower monthly payments, but it incurs more interest over time compared to a 15-year fixed mortgage, which has higher monthly payments but lower overall interest costs [13][14] Current Market Insights - Banks like Chase and Citibank are noted for offering some of the lowest median mortgage rates, emphasizing the importance of shopping around for the best rates [16] - Historical context shows that the lowest-ever 30-year fixed mortgage rate was 2.65% in January 2021, with current rates unlikely to dip below 3% in the near future [18]