Mortgage Interest Rates Drop as of November 19, 2025
Mortgage interest rates have significantly decreased since January 2025, offering a renewed opportunity for potential homebuyers and homeowners looking to refinance. The decline comes in the wake of a series of Federal Reserve rate cuts, positively impacting the mortgage rate landscape.
Current Mortgage Interest Rates
As of November 19, 2025, the average mortgage interest rates are as follows:
- 30-Year Fixed Mortgage: 6.12%
- 15-Year Fixed Mortgage: 5.37%
These rates mark a notable decline from over 7% for a 30-year term in January 2025, providing a more feasible entry point for buyers considering the housing market. The decrease of around a full percentage point could encourage prospective homeowners to proceed with their purchases, particularly before interest rates rise again.
Monthly Payment Calculations
Homebuyers should take advantage of these lower rates by calculating their potential monthly payments. This financial assessment can help determine if now is the right time to pursue homeownership. Buyers are encouraged to shop for competitive rates and lenders online.
Refinance Rates
Homeowners considering refinancing will find the following average rates as of November 19, 2025:
- 30-Year Refinance Rate: 6.78%
- 15-Year Refinance Rate: 5.76%
While the higher 30-year refinance rate may not appeal to many, the lower 15-year rate could be beneficial for those seeking to reduce their interest burden and expedite their mortgage payoff. However, it’s crucial to weigh the potential for larger monthly payments against overall affordability.
Conclusion
The current average mortgage interest rates reflect a favorable trend for both new homebuyers and those looking to refinance. With the average rates at 6.12% for a 30-year mortgage and 5.37% for a 15-year mortgage, now may present a strategic time to explore lending options. Homeowners should also be mindful of closing costs, which can impact the overall affordability of refinancing. As the market continues to evolve, prospective buyers and homeowners should remain informed and proactive in their housing decisions.