What are today's mortgage interest rates: December 22, 2025?
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TL;DR
- Average 30-year fixed mortgage rate is 5.99% as of December 22, 2025.
- Average 15-year fixed mortgage rate is 5.38% as of December 22, 2025.
- These rates are significantly lower than in 2023 and 2024, when rates often exceeded 7%.
- Federal Reserve's three rate cuts in the latter half of 2025 contributed to lower borrowing costs.
- Average 30-year fixed refinance rate is 6.78%, and 15-year fixed refinance rate is 5.73%.
- Individual mortgage rates depend on credit score, down payment, loan-to-value ratio, loan type, and debt-to-income ratio.
- Homeowners with rates above 7.5% or 8% may benefit from refinancing, especially into a 15-year term.
- Refinancing typically requires at least a 0.50% to 1% rate reduction to justify closing costs.