Mortgage and refinance interest rates today, December 22, 2025: Low volatility makes rates easy to shop for

Core Insights - Mortgage rates are currently stable, with the 30-year fixed rate at 6.03% and the 15-year fixed rate at 5.42% [1][18] - The Mortgage Bankers Association (MBA) forecasts that the 30-year mortgage rate will remain around 6.4% through 2026, while Fannie Mae predicts a slight decrease to 5.9% in Q4 2026 [20] Current Mortgage Rates - The national average for various mortgage types includes: - 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% [5] Mortgage Payment Insights - For a $300,000 mortgage at a 30-year term with a 6.03% rate, the monthly payment would be approximately $1,804, resulting in $349,599 in interest over the loan's life [8] - A 15-year mortgage at a 5.42% rate for the same amount would lead to a monthly payment of $2,439 and total interest of $138,936 [10] Adjustable-Rate Mortgages (ARMs) - ARMs typically start with lower rates than fixed mortgages but can increase after the initial period [11] - The 5/1 ARM has a fixed rate for the first five years, after which it adjusts annually [11] - Recent trends show that ARM rates can be similar to or even higher than fixed rates, necessitating careful comparison when choosing a mortgage type [13] Factors Influencing Mortgage Rates - Lenders offer lower rates to borrowers with higher down payments, excellent credit scores, and low debt-to-income ratios [14] - Options for reducing interest rates include paying for discount points at closing or utilizing temporary buydowns [15]