Mortgage and refinance interest rates today, December 30, 2025: Slipping below 6%

Core Insights - Mortgage rates have decreased, with the average 30-year fixed rate now at 5.99% and the 15-year fixed rate at 5.49% [1][13] - The current mortgage refinance rates are generally higher than purchase rates, with the 30-year refinance rate at 6.10% [4][13] Mortgage Rates Overview - The national average mortgage rates are as follows: - 30-year fixed: 5.99% - 20-year fixed: 5.95% - 15-year fixed: 5.49% - 5/1 ARM: 6.10% - 7/1 ARM: 6.08% - 30-year VA: 5.56% - 15-year VA: 5.09% - 5/1 VA: 5.19% [4] Refinance Rates - Current refinance rates are typically higher than purchase rates, with the 30-year fixed refinance rate at 6.10% and the 15-year fixed refinance rate at 5.59% [4][13] Comparison of Mortgage Types - 15-year mortgage rates are generally lower than 30-year rates, but monthly payments are higher due to the shorter term [6] - For a $400,000 mortgage, the monthly payment for a 30-year mortgage at 5.99% is approximately $2,396, resulting in $462,427 in interest over the term. In contrast, a 15-year mortgage at 5.49% has a monthly payment of about $3,266, with total interest of $187,918 [7] Future Rate Predictions - Economists do not anticipate significant drops in mortgage rates before the end of 2026, with the 30-year mortgage rate expected to remain around 6.4% through 2026 [12][14] - The MBA forecasts a 30-year fixed rate of 6.3% for most of 2027, while Fannie Mae predicts rates near 5.9% for the entire year [16]