Mortgage & Refinance Rates Today, November 25, 2025: 30‑Year Fixed Near 2025 Lows as Borrowers Get a New Window

Mortgage rates are hovering just above 6% today, opening a rare opportunity for both homebuyers and refinance shoppers compared with the 7–8% levels of the past two years.

Snapshot: Today’s Average Mortgage Rates (U.S. National Averages)

Most major surveys now cluster around the same story: a 30‑year fixed mortgage is sitting a little above 6%, with shorter terms notably lower.

Across several national trackers for November 25, 2025:

30‑year fixed mortgage
- ~6.1%–6.4%
- NerdWallet/Zillow: 6.12% rate (6.13% APR) ^[1]
- Bankrate: 6.34% rate (6.40% APR) ^[2]
- Money.com: 6.408% average rate ^[3]
15‑year fixed mortgage
- ~5.5%–5.8%
- NerdWallet/Zillow: 5.49% (5.51% APR) ^[4]
- Bankrate: 5.69% (5.76% APR) ^[5]
- Money.com: 5.8% ^[6]
Adjustable‑rate mortgages (5/6 or 5/1 ARMs)
- Typically in the mid‑6% range today
- NerdWallet’s 5‑year ARM: about 6.40% rate, 6.78% APR ^[7]
- Bankrate lists 5/1 ARM averages near mid‑5% to mid‑6% depending on product ^[8]
Government‑backed loans (FHA / VA)
- 30‑year FHA around 6.1–6.3%; 30‑year VA often slightly lower than conventional in some datasets ^[9]

Some outlets go even further: Norada Real Estate, summarizing lender data, says the 30‑year fixed has touched an annual low near 6.06% today, framing it as a “golden window” for buyers. ^[10] Yahoo Finance likewise notes that today’s 30‑year rate is at or near its lowest point of 2025, “just above 6%.” ^[11]

Today’s Refinance Rates: Mid‑6s, But Trending Lower

Refinance rates are still a bit higher than purchase mortgages, but they’ve slipped as well.

National averages today (Nov. 25, 2025):

30‑year fixed refinance
- Money.com: 6.456%, down 0.025 percentage points from yesterday ^[12]
- Bankrate: about 6.74% (6.80% APR) ^[13]
- Forbes/Mortgage Research Center (via Economic Times): ~6.34% ^[14]
- Fortune: 6.28% on a 30‑year fixed refi ^[15]
- Norada: ~6.62%, after a 16‑basis‑point drop today ^[16]
15‑year fixed refinance
- Money.com: 5.801% ^[17]
- Economic Times/Forbes: ~5.36%–5.37% ^[18]
- Bankrate: around 6.12% depending on lender mix ^[19]

Across these sources, a realistic working range for most borrowers today is:

~6.3%–6.7% for a 30‑year refi, and mid‑5s to low‑6s for a 15‑year refi, before any points you might buy down.

How Do Today’s Rates Compare to Yesterday – and to 2023?

Versus yesterday (Nov. 24, 2025)

Money.com shows tiny but meaningful declines:
- 30‑year fixed mortgage dipped from about 6.422% to 6.408%
- 15‑year fixed slid from roughly 5.817% to 5.8% ^[20]
- 30‑year refi dropped a bit more, to 6.456%, a 2.5‑basis‑point move lower ^[21]
Fortune’s refinance tracker has the 30‑year refi easing from roughly 6.33% yesterday to 6.28% today. ^[22]
Zillow‑based data (via CBS on Nov. 24 and NerdWallet today) show the 30‑year fixed nudging up from about 5.99% to around 6.11–6.12%, while the 15‑year moved from 5.37% to the low‑5.5% range. ^[23]

In short, depending on the survey, rates are either flat or a few basis points lower than yesterday — but nearly every major index now clusters near 6%–6.4% for a standard 30‑year loan.

Versus the recent past

Weekly averages from Freddie Mac and FRED show the 30‑year fixed around 6.26% for the week ending November 20, slightly higher than today’s lowest spot readings but close. ^[24]
AP reports that in mid‑November the 30‑year rate was 6.26%, up slightly week‑over‑week but well below the 6.84% level a year ago, and that rates have generally stayed under 6.4% since early September. ^[25]
Investopedia notes that 30‑year mortgage rates had surged above 8% by late 2023, making today’s ~6% range a huge improvement. ^[26]

For borrowers who locked in loans in 2023 or early 2024 at 7–8%, today’s market can mean hundreds of dollars in monthly savings if they refinance.

Why Are Mortgage Rates Easing Again?

Mortgage rates don’t move directly with the Federal Reserve’s policy rate, but they’re strongly influenced by:

The 10‑year Treasury yield
Expectations for future Fed actions
Inflation and labor‑market data

In 2025, the Fed has already cut rates twice, bringing the federal funds range down to 3.75%–4.00% as of the October 29 meeting. ^[27]

At the same time:

Inflation is running near 3%, down sharply from the 9.1% peak in 2022 but still above the Fed’s 2% goal. ^[28]
Job growth remains solid, but unemployment has crept higher, leading to a mixed economic picture. ^[29]

Market odds for another December 9–10 Fed cut have swung wildly. A recent CBS analysis put the probability of a December rate cut around 22%–41%, based on economist surveys and futures pricing, while other commentary has highlighted moments when Fed‑cut expectations were much higher earlier in the month. ^[30]

All of this has kept mortgage rates in what one outlet described as a “frustrating holding pattern” around 6.2%, with brief dips when bond markets rally. ^[31]

What Today’s Rates Mean for Homebuyers

Even at ~6%, mortgages are not cheap by pre‑2022 standards, but they’re a lot more manageable than last year’s 7–8%.

To see the impact:

On a $400,000, 30‑year loan:
- At 7.5%, the monthly principal and interest is roughly $2,800.
- At 6.25%, it’s closer to $2,460.
- That’s a savings of about $330 per month, or nearly $4,000 per year (and over $100,000 across 30 years), before taxes and insurance.

Investopedia illustrates something similar using a $392,000 loan, where refinancing from 7.40% to 6.30% cuts payments by about $333 per month. ^[32]

If you’re buying in today’s market:

Affordability is better than in 2023, especially if you were previously priced out by 7%+ rates.
Homes are still expensive, and inventory is tight in many metros, but every fraction of a percentage point in rate relief improves your buying power.
If you’re comfortable with your budget at today’s rate, it can make sense to:
- Lock in a fixed rate now, and
- Plan for a possible refinance later if rates drop closer to 5% in 2026.

What Today’s Rates Mean for Homeowners Considering a Refinance

Refinance decisions are more nuanced.

CBS and other sources highlight the traditional rule of thumb: refinance when you can drop your rate by at least 1 percentage point. But in today’s higher‑rate environment, some experts say even a 0.5‑point improvement can be worth it, depending on the loan size and how long you’ll keep the home. ^[33]

You’re more likely to benefit from refinancing if:

You bought or refi’d in late 2023 or early 2024 when 30‑year rates were over 7%. ^[34]
You have excellent credit, strong income, and at least 20% equity, which helps you qualify for today’s best offers.
You expect to stay in your home long enough to recoup closing costs.

Key refi math to run:

Rate drop
- How many percentage points can you shave off your current rate?
Monthly savings
- Compare your current payment to a new one at today’s rate for the same remaining term.
Total closing costs
- Include lender fees, appraisal, title, and any points you might buy down.
Break‑even point
- Divide your closing costs by your monthly savings.
- If you’ll stay in the home longer than that break‑even period, refinancing is more likely worth it.

Experts in multiple articles stress that borrowers should weigh these closing costs carefully, not just chase a slightly lower rate. ^[35]

How to Get the Best Rate Today

Regardless of whether you’re buying or refinancing, today’s ~6% environment still rewards preparation and shopping around:

Check and polish your credit
- Aim for good to excellent scores to access the best advertised rates.
- Pay down card balances, dispute errors, and avoid opening new debt before applying.
Compare at least 3–5 lenders
- Use comparison tools from sites like Money, NerdWallet, and Bankrate to benchmark national averages, then get custom quotes. ^[36]
Look at APR, not just the headline rate
- APR folds in discount points and lender fees; it’s the better way to compare overall cost across offers. ^[37]
Decide whether to buy points
- Paying upfront for a lower rate can make sense if:
  - You’ll keep the loan for many years, and
  - The rate reduction meaningfully boosts monthly savings.
Choose the right term
- 15‑year loans can save tens of thousands in interest thanks to today’s mid‑5% averages, but monthly payments are higher. ^[38]
Consider a rate lock – or even a float‑down
- Many lenders let you lock a rate for 30–60+ days; some offer float‑down options, letting you capture a lower rate if the market improves before closing (sometimes for a fee). ^[39]

Should You Wait for 2026? What Experts Expect

A fresh CBS outlook lays out three broad scenarios for mortgage rates in 2026: ^[40]

Rates fall
- If inflation keeps drifting closer to 2% and the job market cools, additional Fed cuts could pull mortgage rates below 6%, potentially into the mid‑5s.
Rates hover around today’s levels
- If inflation stays slightly above target and the Fed moves cautiously, mortgage rates may stabilize near 6%, with modest ups and downs.
Rates rise again
- If growth and inflation surprise to the upside, markets could price in fewer or delayed cuts, nudging mortgage rates higher again.

Importantly, the same article notes that many forecasts still expect mortgage rates to hover near 6% for a while, even as the Fed holds its policy rate in the 3.75–4% band. ^[41]

What that means for you:

If you can comfortably afford a home at today’s rate and plan to stay put, waiting purely for a slightly lower rate can backfire if prices or rates move against you.
If your finances are borderline, it may be smart to:
- Spend the next few months improving your credit,
- Building a bigger down payment, and
- Watching what the Fed does at its December meeting and into early 2026.

Bottom Line: A Narrow but Real Opportunity

As of November 25, 2025, most national indices agree:

30‑year fixed mortgage: just above 6%
15‑year fixed mortgage:mid‑5s
30‑year refi:mid‑6s, with some lenders lower

That’s far below the 7–8% peaks of 2023, yet still well above the ultra‑low pandemic era. For buyers and homeowners who’ve been waiting out the market, today’s levels may represent a “good enough” window:

Attractive enough to meaningfully cut payments versus 2023–24,
But with at least some chance to refinance again if 2026 brings another leg down in rates.

Just remember: these are national averages. Your actual rate will depend on your credit score, income, debts, down payment, loan type, property type, and lender choice. Get multiple quotes, compare APRs carefully, and run the math on your own break‑even point before you commit.

When Does Refinancing Your Mortgage Make Sense?