What are today's mortgage interest rates: December 4, 2025?
Just under 90%. That's the likelihood the Federal Reserve will cut interest rates when it wraps its final 2025 meeting on December 10. Now at a range between 3.75% to 4.00%, the central bank is widely expected to issue another 25 basis point cut, bringing the rate down to 3.50% to 3.75%. That will be the third cut in four months from the Fed, opening up new opportunities for borrowers who otherwise would have paid a lot more a year or two ago.
But homebuyers and owners hoping to refinance may not have to wait for the Fed to justify taking action now. Mortgage interest rates have been gradually declining for much of 2025 already, hitting 3-year lows multiple times in recent months. And many lenders, in anticipation of next week's Fed rate cut, may have already lowered their current offers to price in that reality. So the rates you see listed online today may now be competitive enough to proceed with your next steps.
But what are today's mortgage interest rates, exactly, as of December 4, 2025? Below, we'll detail everything buyers and owners hoping to refinance need to know to make an informed choice.
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What are today's mortgage interest rates?
The average mortgage interest rate on a 30-year term is 5.99%, as of December 4, 2025, according to Zillow. The average mortgage interest rate on a 15-year term is 5.37%. Both rates remained the same as they've been in recent days. That's likely due to lenders finding themselves in a holding pattern until more clarity around a Fed rate cut presents itself.
That said, these are just averages and with a little time spent shopping around online for rates and lenders, qualified borrowers shouldn't be surprised if they locate even more attractive offers. Take the time, then, to do your research as shopping for lenders has been proven to be a significant savings strategy for buyers.
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What are today's mortgage refinance interest rates?
The average mortgage refinance rate on a 30-year term is 6.72% as of December 4, 2025, according to Zillow. The average refi rate on a 15-year term, however, is much lower, as it comes in now at just 5.81%. While that would require homeowners to expedite their payoff timeline and likely result in larger monthly payments, the interest savings and the ability to become debt-free in half the time could be worth exploring, especially in today's hard-to-read economic climate.
The bottom line
The average mortgage interest rate on a 30-year term is 5.99% as of December 4, 2025, and it's 5.37% for a 15-year term, as both rate options remained the same overnight. The average refi rate on a 30-year term, meanwhile, is currently 6.72% and just 5.81% for a 15-year option. So there are multiple ways for buyers and owners to secure a mortgage rate under 6% right now. When was the last time you were able to do that? Shop for lenders, rates and terms, then, to better understand your current options. You may not have to wait for next week's Fed rate cut to get started.
