Mortgage and refinance interest rates today, December 19, 2025: Stable rates push purchase applications 10% higher

Mortgage Rates Overview - The national average 30-year fixed mortgage rate is currently 6.21%, down from 6.72% a year ago, while the 15-year fixed rate is at 5.47%, down from 5.92% last year [1] - The average 30-year fixed-rate mortgage has remained stable within a narrow 10-basis point range over the last two months, with purchase applications up 10% compared to the same time last year [1] Current Mortgage Rates - Current mortgage rates include a 30-year fixed at 6.06%, 20-year fixed at 5.91%, and 15-year fixed at 5.42% [5] - Other rates include 5/1 ARM at 6.02%, 7/1 ARM at 6.14%, 30-year VA at 5.52%, and 15-year VA at 5.02% [5] Mortgage Rate Trends - Mortgage rates have generally decreased since the end of May and remain lower than the same time last year, with economists not expecting drastic declines through the end of 2026 [14] - The MBA forecasts the 30-year mortgage rate to be around 6.4% through 2026, while Fannie Mae predicts rates above 6% next year, dipping to 5.9% in Q4 2026 [17] Future Projections - For 2027, the MBA anticipates 30-year fixed rates of 6.3% for most of the year, increasing to an average of 6.4% in Q4, while Fannie Mae expects average rates near 5.9% for the entire year [18]