What are today's mortgage interest rates: December 15, 2025?
The final Federal Reserve meeting of 2025 has concluded and the final Fed rate cut of the year was issued on December 10. Now that the cut and comments made post-meeting about other potential ones in 2026 have had a chance to reverberate throughout the economy, borrowers may want to start researching their options again. A Fed rate cut, even in a small increment, can lead to lower interest rates on a variety of products, including mortgages and mortgage refinance loans. And that's welcome news for mortgage borrowers, in particular, who have seen their rate offers rise exponentially in recent years.
That noted, rates here have gradually declined in 2025 and combined with three Fed rate cuts issued in the final four months of the year, may now be low enough to support purchase or refinancing activity.
So, what are today's mortgage interest rates, as of December 15, 2025? Below, we'll detail everything to know to make an informed decision now.
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What are today's mortgage interest rates?
The average mortgage rate on a 30-year term is 6.12% as of December 15, 2025, according to Zillow. That's a slight bump up from the 5.99% it was earlier in the month, but not a total surprise, as mortgage rates can rise slightly after a rate cut is formalized since many lenders price in the reduction before it's formalized.
The average mortgage rate on a 15-year term is 5.50%, also a slight rise from recent weeks, but still competitive for those buyers who don't mind a bigger monthly mortgage payment in exchange for lower interest costs and an expedited payoff timeline. But with these just being averages and the reality that lenders respond differently to Fed rate cuts, buyers may be able to find rates that are even lower by comparison shopping online now.
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What are today's mortgage interest rates?
The average mortgage refinance rate on a 30-year term dropped to 6.65% from 6.72% on December 15, 2025, according to Zillow. The average refi rate for a 15-year option also declined from where it had been in recent days, moving from 5.70% to 5.67%.
While these options are not as advantageous as they were a few years ago, they still could represent significant savings for some homeowners, particularly for those who purchased a home in the 7%-plus environment of recent years. So take the time to carefully consider the potential savings opportunity these rates offer right now. It may be enough to justify taking the next step.
The bottom line
As of December 15, 2025, the average mortgage rate on a 30-year term is 6.12% and just 5.50% for a 15-year alternative. The median mortgage refinance rate moved down to 6.65% on Monday for a 30-year option, and it declined to 5.67% for a 15-year refinance. But with the Fed's final meeting of the year now concluded and the corresponding rate cut of the year digested by the borrowing rate climate, these may be the most competitive rates available right now – or until new economic data moves them one way or another. With that being understood, it can be worth locking one of these rates in today. You can always unlock and relock one in the future or refinance long-term, but there's no guarantee that these will remain where they are much longer.
