Mortgage Rates Slightly Higher, But Still Near 3-Year Lows

Mortgage rates saw a minor uptick this week, but they continue to hover near some of the lowest levels seen in over a year. As of late November 2025, the average rate for a 30-year fixed mortgage is around 6.22%, with 15-year fixed rates at approximately 5.78%. While this marks a slight increase from last week, these rates are still significantly lower than the highs seen earlier in the year and remain close to the best levels in more than three years.​

What’s Driving Current Rates?

The movement in mortgage rates is closely tied to the bond market and broader economic trends. Recent data shows that rates have been supported by a combination of stable economic conditions, modest inflation, and the Federal Reserve’s cautious approach to interest rate policy. Although a small rise was observed this week, analysts expect only minor fluctuations for the remainder of 2025, with rates likely to stay in the 6.00%–6.50% range for 30-year loans.​

What Homebuyers Should Know

For those looking to buy or refinance, these rates represent a favorable window. Even with the recent uptick, monthly payments remain manageable, and the potential for further declines remains if the Fed makes additional rate cuts before year-end. However, it’s important to note that individual rates will vary based on credit history, down payment size, and loan term—so it’s wise to shop around and consider working with a trusted broker to secure the best possible deal.​

Looking Ahead

The holiday season typically brings slower movement in mortgage rates, as both lenders and bond markets tend to close or operate at reduced capacity around Thanksgiving. This means significant rate changes are unlikely in the coming days, making now a good time to lock in a rate if you’re ready to move forward with your mortgage plans.​