Mortgage and refinance interest rates today, December 23, 2025: Substantially unchanged

Core Insights - Mortgage rates for both purchase and refinance are currently stable, with the average 30-year rate at 6.04% and the 15-year rate at 5.44% [1][13] Mortgage Rates Overview - The national average mortgage rates are as follows: - 30-year fixed: 6.04% - 20-year fixed: 5.89% - 15-year fixed: 5.44% - 5/1 ARM: 6.13% - 7/1 ARM: 6.05% - 30-year VA: 5.52% - 15-year VA: 5.17% - 5/1 VA: 5.44% [4] Refinance Rates - Refinance rates are generally higher than purchase rates, with the current averages being: - 30-year fixed: 6.15% - 20-year fixed: 6.01% - 15-year fixed: 5.60% - 5/1 ARM: 6.37% - 7/1 ARM: 6.49% - 30-year VA: 5.67% - 15-year VA: 5.36% - 5/1 VA: 5.45% [4] Comparison of Mortgage Types - 15-year mortgage rates are typically lower than 30-year rates, but monthly payments are higher due to the shorter term [6] - For a $400,000 mortgage at 6.04% over 30 years, the monthly payment is approximately $2,409, resulting in $467,059 in interest paid over the term. In contrast, a 15-year mortgage at 5.44% would have a monthly payment of about $3,256, with total interest of $186,010 [7] Future Rate Predictions - Economists do not anticipate significant drops in mortgage rates before the end of 2026, with the Federal Reserve signaling potential rate cuts in 2026 and possibly 2027 [12] - The Mortgage Bankers Association (MBA) forecasts the 30-year mortgage rate to remain around 6.4% through 2026, while Fannie Mae predicts a slight decrease to 5.9% in Q4 2026 [14] - For 2027, the MBA expects rates to average 6.3%, with Fannie Mae estimating rates near 5.9% for the year [16]