What is the current average 30-year fixed mortgage rate?

As of the latest data, the national average 30-year fixed mortgage rate is 6.10%.

Are mortgage rates expected to drop soon?

Significant drops in mortgage rates are not anticipated in the near future, though minor fluctuations may occur.

How can I get a lower mortgage rate from lenders?

Improve your credit score, increase your down payment, and lower your debt-to-income ratio to qualify for better rates.

Home / Business and Economy / Mortgage Rates Climb: Your Buying Power Shrinks

Mortgage Rates Climb: Your Buying Power Shrinks

7 Dec, 2025

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Summary

Average 30-year fixed mortgage rate is now 6.10%.
15-year fixed mortgage rate averages 5.55% currently.
Shop multiple lenders for the best mortgage rates.

Mortgage Rates Climb: Your Buying Power Shrinks

National average mortgage rates have seen an increase, with the 30-year fixed rate now at 6.10% and the 15-year fixed rate at 5.55%. These figures represent averages, and actual rates can vary significantly based on individual financial profiles, location, and chosen lenders. For those considering a purchase or refinance, understanding these shifts is crucial for budgeting and financial planning.

When comparing mortgage options, it's essential to look at both fixed-rate and adjustable-rate mortgages (ARMs). Fixed rates offer stability, while ARMs may start lower but can fluctuate. The article highlights that a 15-year mortgage, while having a higher monthly payment, results in significantly less interest paid over the loan's life compared to a 30-year term.

To secure the most favorable rate, prospective borrowers should focus on optimizing their financial standing. This includes improving credit scores, increasing down payments, and reducing debt-to-income ratios. Applying for pre-approval with several lenders within a short period is recommended to accurately compare rates and fees, paying close attention to the Annual Percentage Rate (APR) as a true measure of borrowing cost.