Mortgage Rates Today: November 6, 2025 – Rates Climb for 3rd Straight Day

 The current average mortgage rate on a 30-year fixed mortgage is 6.33%, compared to 6.15% a week earlier, according to the Mortgage Research Center.  

For borrowers who want a shorter mortgage, the average rate on a 15-year fixed mortgage is 5.44%, up 2.70% from the previous week. 

Homeowners who want to lock in a lower rate by refinancing should compare their existing mortgage rate to today’s refinance rates.  

30-Year Mortgage Rates Climb 2.88%

Today’s average rate on a 30-year, fixed-rate mortgage is 6.33%, which is 2.88% higher than last week.

The interest plus lender fees, called the annual percentage rate (APR), on a 30-year fixed mortgage is 6.35%. The APR was 6.18% last week.

To get an idea about how much you might pay in interest, consider that the current 30-year, fixed-rate mortgage of 6.33% on a $100,000 loan will cost $621 per month in principal and interest (taxes and fees not included), the Forbes Advisor mortgage calculator shows. The total amount you’ll pay in interest during the loan’s lifespan is $124,075. 

15-Year Mortgage Rates Climb 2.70%

The average interest rate on a 15-year mortgage (fixed-rate) inched up to 5.44%. This same time last week, the 15-year fixed-rate mortgage was at 5.29%. 

The APR on a 15-year fixed is 5.48%. It was 5.34% this time last week.

At today’s interest rate of 5.44%, a 15-year fixed-rate mortgage would cost approximately $814 per month in principal and interest per $100,000. You would pay around $46,903 in total interest over the life of the loan. 

Jumbo Mortgage Rates Climb 0.75% 

The current average interest rate on a 30-year fixed-rate jumbo mortgage (a mortgage above 2025’s conforming loan limit of $806,500 in most areas) is 6.72%. Last week, the average rate was 6.67%.

If you lock in the latest rate on a 30-year, fixed-rate jumbo mortgage, you will pay $646 per month in principal and interest per $100,000 borrowed, which amounts to $133,089 in total interest over the life of the loan. 

Mortgage Rate Trends in 2025 

After reaching highs in 2024, the average 30-year fixed mortgage rate has remained in the mid-to-high 6% range since late January 2025. The 15-year fixed mortgage rate has hovered between the low-6% and mid-to-high-5% range.

While interest rates have fallen since mid-January 2025, experts expect them to remain relatively steady for the remainder of the year. If the Federal Reserve continues to cut the federal funds rate, it’s possible that mortgage rates will decrease in 2026. 

When Will Mortgage Rates Go Down? 

Various economic factors influence mortgage rates, making it challenging to forecast when rates will drop.

The Federal Reserve’s decisions significantly impact mortgage rates. In response to inflation or an economic downturn, the Fed may lower its federal funds rate, prompting lenders to reduce mortgage rates.

Mortgage rates also track U.S. Treasury bond yields. If bond yields drop, mortgage rates typically follow suit.

Finally, global events that cause financial disruptions can affect mortgage rates. For example, the Covid-19 pandemic led to record-low interest rates when the Fed cut rates.

While a significant decrease in mortgage rates is unlikely in the near future, they may start to decline if inflation eases or the economy weakens. 

How Much House Can I Afford? 

Everyone’s budget and financial goals vary. How much house you can afford comes down to a number of factors, including what you earn and what you owe. You’ll also want to consider how much you want to save for retirement, school and other expenses down the road.

Here are a few basic factors that go into what you can afford:

• Income 
• Debt 
• Debt-to-income ratio (DTI) 
• Down payment 
• Credit score

How Are Mortgage Rates Determined?

Mortgage interest rates are determined by several factors, including some that borrowers can’t control:

• Federal Reserve. The Fed rate hikes and decreases adjust the federal funds rate, which helps determine the benchmark interest rate that banks lend money at. As a result, mortgage rates tend to move in the same direction with the Fed’s rate decision. 
• Bond market. Mortgages are also loosely connected to long-term bond yields as investors look for income-producing assets—specifically, the 10-year U.S. Treasury Bond. Home loan rates tend to increase as bond prices decrease, and vice versa. 
• Economic health. Rates can increase during a strong economy when consumer demand is higher and unemployment levels are lower. Anticipate lower rates as the economy weakens and there is less demand for mortgages. 
• Inflation. Banks and lenders may increase rates during inflationary periods to slow the rate of inflation. Additionally, inflation makes goods and services more expensive, reducing the dollar’s purchasing power.

While the above factors set the base interest rate for new mortgages, there are several areas that borrowers can focus on to get a lower rate:

• Credit score. Applicants with a credit score of 670 or above tend to have an easier time qualifying for a better interest rate. Typically, most lenders require a minimum score of 620 to qualify for a conventional mortgage. 
• Debt-to-income (DTI) ratio. Lenders may issue mortgages to borrowers with a DTI of 50% or less. However, applying with a DTI below 43% is recommended. 
• Loan-to-value (LTV) ratio. Conventional home loans charge private mortgage insurance when your LTV exceeds 80% of the appraisal value, meaning you need to put at least 20% down to avoid higher rates. Additionally, FHA mortgage insurance premiums expire after the first 11 years when you put at least 10% down. 
• Loan term. Longer-term loans such as a 30-year or 20-year mortgage tend to charge higher rates than a 15-year loan term. However, your monthly payment can be more affordable over a longer term. 
• Residence type. Interest rates for a primary residence can be lower than a second home or an investment property. This is because the lender of your primary mortgage receives compensation first in the event of foreclosure.

Frequently Asked Questions (FAQs)