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title:Mortgage and refinance interest rates today, December 5, 2025: A half-point lower than one year ago
source:Yahoo Finance
content:2. [Personal Finance](https://finance.yahoo.com/personal-finance/)
3. /
4. [Mortgages](https://finance.yahoo.com/personal-finance/mortgages/)
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Mortgage and refinance interest rates today, December 5, 2025: A half-point lower than one year ago
===================================================================================================
[](/author/hal-bundrick)
[Hal Bundrick, CFP®](/author/hal-bundrick) · Senior Writer
[](/author/laura-grace-tarpley)
[Laura Grace Tarpley](/author/laura-grace-tarpley) · Lead Editor and Content Strategist, Mortgages
Fri, December 5, 2025 at 11:00 AM GMT 5 min read
Mortgage rates are a half-point lower than one year ago. According to Freddie Mac, the national average 30-year fixed mortgage this week is **6.19%**. A year ago, it averaged 6.69% The 15-year fixed rate is **5.44%.** At this time last year, it averaged 5.96%.
“Mortgage rates decreased for the second straight week as we emerged from the Thanksgiving holiday,” Sam Khater, Freddie Mac’s chief economist, said in a release. “Compared to this time last year, mortgage rates are half a percent lower, creating a more favorable environment for homebuyers and homeowners.”
* [*Learn what to do if you want to buy a house before the end of 2025.*](https://finance.yahoo.com/personal-finance/mortgages/article/buying-a-house-before-the-end-of-2025-181504052.html)
Current mortgage rates
----------------------
Here are the current mortgage rates, according to the latest Zillow data:
* **30-year fixed:** 5.97%
* **20-year fixed:** 5.91%
* **15-year fixed:** 5.41%
* **5/1 ARM:** 6.02%
* **7/1 ARM:** 6.13%
* **30-year VA:** 5.57%
* **15-year VA:** 5.30%
* **5/1 VA:** 5.39%
Remember, these are the national averages and rounded to the nearest hundredth.
Current mortgage refinance rates
--------------------------------
These are today's mortgage refinance rates, according to the latest Zillow data:
* **30-year fixed:** 6.13%
* **20-year fixed:** 6.22%
* **15-year fixed:** 5.56%
* **5/1 ARM:** 6.29%
* **7/1 ARM:** 6.48%
* **30-year VA:** 5.50%
* **15-year VA:** 5.13%
* **5/1 VA:** 5.14%
Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that's not always the case.
[*Dig deeper into the 7 home refinance options.*](https://finance.yahoo.com/personal-finance/mortgages/article/home-refinance-options-173007768.html)
### Refinance interest rates
Free mortgage calculator
------------------------
Your mortgage rate plays a large role in how much your monthly payment will be. Use this mortgage calculator to see how your mortgage amount, rate, and term length will impact your monthly payments:
This embedded content is not available in your region.
You can bookmark the Yahoo Finance [mortgage payment calculator](https://finance.yahoo.com/personal-finance/calculators/mortgage-calculator) and keep it handy for future use, as you shop for homes and lenders.
**How mortgage interest rates work**
------------------------------------
A mortgage interest rate is a fee for borrowing money from your lender, expressed as a percentage. You can choose from two types of rates: fixed or adjustable.
A fixed-rate mortgage locks in your rate for the entire life of your loan. For example, if you get a 30-year mortgage with a 6% interest rate, your rate will stay at 6% for the entire 30 years unless you refinance or sell.
An [adjustable-rate mortgage](https://finance.yahoo.com/personal-finance/mortgages/article/adjustable-rate-mortgage-155738644.html) locks in your rate for a predetermined amount of time and then changes it periodically. Let’s say you get a 7/1 ARM with an introductory rate of 6%. Your rate would be 6% for the first seven years, then the rate would increase or decrease once per year for the last 23 years of your term. Whether your rate goes up or down depends on several factors, such as the economy and housing market.
At the beginning of your mortgage term, most of your monthly payment goes toward interest. Your monthly payment toward [mortgage principal](https://finance.yahoo.com/personal-finance/mortgages/article/mortgage-principal-213811390.html) and interest stays the same throughout the years — however, less and less of your payment goes toward interest, and more goes toward the mortgage principal or the amount you originally borrowed.
* [*Determine whether an adjustable-rate vs. fixed-rate mortgage is better for you.*](https://finance.yahoo.com/personal-finance/mortgages/article/adjustable-rate-mortgage-vs-fixed-203423977.html)
**Which mortgage term length should you get?**
----------------------------------------------
A 30-year fixed-rate mortgage is a good choice if you want a lower mortgage payment and the predictability that comes with having a fixed rate. Just know that your rate will be higher than if you choose a shorter term, and you will pay significantly more in interest over the years.
You might like a 15-year fixed-rate mortgage if you want to pay off your home loan quickly and save money on interest. These shorter terms come with lower interest rates, and since you’re cutting your repayment time in half, you’ll save a lot in interest in the long run. But you’ll need to be sure you can comfortably afford the higher monthly payments that come with 15-year terms.
* [*Learn how to decide between a 15-year and 30-year fixed-rate mortgage.*](https://finance.yahoo.com/personal-finance/mortgages/article/15-vs-30-year-mortgage-155528370.html)
Typically, an adjustable-rate mortgage could be good if you plan to sell before the introductory rate period ends. Adjustable rates usually start lower than fixed rates, then your rate will change after a predetermined amount of time. However, 5/1 and 7/1 ARM rates have similar to (or even higher than) 30-year fixed rates recently. Before getting an ARM just for a lower rate, compare your rate options from term to term and lender to lender.
**Are mortgage rates decreasing?**
----------------------------------
Mortgage rates have generally fallen since the end of May, and home loan rates are a half-point lower than the same time one year ago.
Mortgage interest rates will continue to waver a bit for the rest of the year. The November forecasts from Fannie Mae and the Mortgage Bankers Association (MBA) predict that the 30-year rate will remain at 6% or higher for most of 2026, although Fannie Mae projects it will fall to 5.9% in Q4 2026.
Mortgage interest rates today: FAQs
-----------------------------------
### What are mortgage interest rates doing today?
According to Freddie Mac, the national average 30-year mortgage rate fell four basis points to 6.19% for the week, while the average 15-year mortgage rate fell seven basis points to 5.44%.
### How low will mortgage rates go in 2026?
According to its November forecast, the MBA expects the 30-year mortgage rate to be near 6.4% through 2026. Fannie Mae also predicts a 30-year rate above 6% through next year, yet dipping down to 5.9% in Q4 2026.
### How low could mortgage rates go by 2027?
Mortgage rates are likely to remain little changed in 2027. The MBA forecast 30-year fixed rates of 6.3% for most of 2027, before stepping up to an average of 6.4% in Q4 '27. Fannie Mae predicts average rates near 5.9% for the full year of 2027.
[](https://finance.yahoo.com/personal-finance/mortgages/article/refinancing-your-mortgage-before-the-end-of-2025-182957381.html "Want to refinance your mortgage before the end of 2025? Here's what to do.")
[### Want to refinance your mortgage before the end of 2025? Here's what to do.
If you want to refinance your mortgage before the end of 2025, you're in luck. It may be a good time. Learn the steps to take to refi in the next couple of months.](https://finance.yahoo.com/personal-finance/mortgages/article/refinancing-your-mortgage-before-the-end-of-2025-182957381.html "Want to refinance your mortgage before the end of 2025? Here's what to do.")
[](https://finance.yahoo.com/personal-finance/mortgages/article/refinance-mortgage-162831396.html "How to refinance your mortgage")
[### How to refinance your mortgage
A mortgage refinance involves replacing your original home loan with a new one. Learn how to refinance a mortgage loan and decide if it's the right choice for you.](https://finance.yahoo.com/personal-finance/mortgages/article/refinance-mortgage-162831396.html "How to refinance your mortgage")
[](https://finance.yahoo.com/personal-finance/mortgages/article/how-much-equity-do-you-need-to-refinance-204617253.html "How much home equity do you need to refinance your mortgage?")
[### How much home equity do you need to refinance your mortgage?
To refinance your mortgage, you need a certain amount of home equity. The rules vary by loan type and refi program. Learn how much equity you need to refinance.](https://finance.yahoo.com/personal-finance/mortgages/article/how-much-equity-do-you-need-to-refinance-204617253.html "How much home equity do you need to refinance your mortgage?")
[](https://finance.yahoo.com/personal-finance/mortgages/article/how-much-does-it-cost-to-refinance-a-mortgage-162651390.html "How much does it cost to refinance a mortgage?")
[### How much does it cost to refinance a mortgage?
A mortgage refinance can cost 2% to 6% of the loan amount. Learn what impacts these costs and how to lower or eliminate what you pay up front.](https://finance.yahoo.com/personal-finance/mortgages/article/how-much-does-it-cost-to-refinance-a-mortgage-162651390.html "How much does it cost to refinance a mortgage?")
[](https://finance.yahoo.com/personal-finance/mortgages/article/best-mortgage-refinance-lenders-161445533.html "Best mortgage refinance lenders right of December 2025")
[### Best mortgage refinance lenders right of December 2025
The best mortgage refinance companies charge low interest rates and fees, and they often have unique perks for customers. Find your best mortgage refinance lender.](https://finance.yahoo.com/personal-finance/mortgages/article/best-mortgage-refinance-lenders-161445533.html "Best mortgage refinance lenders right of December 2025")
[![Chase launches a limited-time mortgage rate refinance sale [Expired]](https://s.yimg.com/uu/api/res/1.2/gwST1BSVtV0CbHcrcBskGw--~B/Zmk9c3RyaW07aD0xMDk7cT04MDt3PTE5NDthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/os/creatr-uploaded-images/2025-09/ddc3dc50-8a9b-11f0-bf75-fc71696cbf8d.cf.webp)](https://finance.yahoo.com/personal-finance/mortgages/article/chase-limited-time-mortgage-refinance-rate-sale-130032595.html "Chase launches a limited-time mortgage rate refinance sale [Expired]")
[### Chase launches a limited-time mortgage rate refinance sale [Expired]
Chase Home Loans is offering a "refinancing rate sale" for rate-and-term and cash-out refinancing. Learn how to qualify for this limited-time rate discount.](https://finance.yahoo.com/personal-finance/mortgages/article/chase-limited-time-mortgage-refinance-rate-sale-130032595.html "Chase launches a limited-time mortgage rate refinance sale [Expired]")
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