Core Insights - Mortgage rates are currently just above 6%, with the average 30-year fixed mortgage rate at 6.03% and the 15-year fixed rate at 5.42% [1][20] - Zillow's rates tend to be lower than those reported by Freddie Mac due to different data collection methods [1] - Mortgage rates can vary significantly based on state, lender, loan type, and other factors [1] Current Mortgage Rates - The current national average mortgage rates include: - 30-year fixed: 6.03% - 20-year fixed: 5.95% - 15-year fixed: 5.42% - 5/1 ARM: 6.03% - 7/1 ARM: 6.18% - 30-year VA: 5.46% - 15-year VA: 5.05% - 5/1 VA: 5.16% [6] Refinance Rates - Today's mortgage refinance rates are generally higher than purchase rates, although this is not always the case [4] - The refinance rates are also based on national averages rounded to the nearest hundredth [4] Market Trends - Mortgage rates have gradually decreased since the end of May, with the 30-year fixed rate peaking over 7% in January and then fluctuating [22] - The Mortgage Bankers Association (MBA) forecasts the 30-year mortgage rate to be near 6.4% through 2026, while Fannie Mae predicts rates above 6% next year, dropping to 5.9% in Q4 2026 [21] Buying Considerations - The current housing market is considered relatively favorable compared to the previous years, with home prices stabilizing [19] - Timing the real estate market is often seen as challenging, and the best time to buy is when it aligns with personal circumstances [19]
Mortgage and refinance interest rates today, December 20, 2025: Why published rates vary so much