Mortgage and refinance interest rates today, December 29, 2025: Mostly unchanged for two months

Core Insights - Mortgage rates are stable as the holiday week begins, with the 30-year fixed mortgage rate at 6.01% and the 15-year fixed rate at 5.47% [1][18]. Current Mortgage Rates - The national average for the 30-year fixed mortgage rate is 6.01%, while the 15-year fixed rate is 5.47% [18]. - Other mortgage rates include: - 20-year fixed: 5.93% - 5/1 ARM: 6.11% - 7/1 ARM: 6.34% - 30-year VA: 5.59% - 15-year VA: 5.19% - 5/1 VA: 5.24% [5]. Mortgage Payment Calculations - For a $300,000 mortgage at a 30-year term with a 6.01% rate, the monthly payment would be approximately $1,800, resulting in $348,209 paid in interest over the loan's life [8]. - For the same mortgage amount with a 15-year term at a 5.47% rate, the monthly payment would increase to $2,446, with total interest paid being $140,366 [10]. Adjustable Mortgage Rates - Adjustable-rate mortgages (ARMs) typically start with lower rates than fixed rates 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 among lenders [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 interest rate buydowns [15]. Future Rate Predictions - The Mortgage Bankers Association (MBA) forecasts the 30-year mortgage rate to remain around 6.4% through 2026, while Fannie Mae predicts rates above 6% next year, potentially dropping to 5.9% in Q4 2026 [20].