What are today's mortgage interest rates: December 5, 2025?
If you're a homebuyer or homeowner hoping to refinance, the middle of the holiday season may seem like an unconventional time to start shopping around for mortgage interest rates. But unconventional doesn't necessarily mean unworthy, especially in the cooling interest rate climate of December 2025. Mortgage interest rates have been on a gradual decline for much of this year and that could continue in the upcoming weeks if the Federal Reserve issues another interest rate cut on December 10.
That cut, the third in four months, can further help cool the larger interest rate climate and it could make mortgage rates fall below the 3-year lows they've been hovering near since September. That said, there are multiple mortgage interest rates options already available under 6%, so waiting may not be necessary for many buyers and owners. Taking action now can be affordable enough.
So, what are today's mortgage interest rates, as of December 5, 2025? Below, we'll detail what you need to know to better determine your next moves.
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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 5, 2025, according to Zillow. That's the same rate that has been seen in recent days as the market waits for Fed action, or lack thereof, to make any significant changes. The average mortgage interest rate on a 15-year term also stayed the same as it has been in recent days, coming in at 5.37%.
That said, with both rates under 5% now, and rates here are often over 7% as recently as January this year, these rates could already be low enough to justify re-entering the homebuying market. Take the time to shop around and compare rates and lenders, as these are just averages. Some lenders may offer even lower rates for qualified borrowers.
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What are today's mortgage refinance rates?
The average mortgage refinance interest rate on a 30-year term declined to 6.62% on December 5, 2025, according to Zillow. The average refi rate for a 15-year term also declined, coming in at just 5.51% on Friday morning. Both offer homeowners with rates in the 7% or higher range a significant interest-savings opportunity.
But remember that refinancing comes with closing costs just like a mortgage purchase does, so it's critical that the savings being offered via today's lower rates are strong enough to eventually outweigh those costs. If you're planning on moving before that break-even point, refinancing won't be as advantageous, even with a 15-year option significantly below 6% now.
The bottom line
The average mortgage interest rate on a 30-year term and a 15-year one remained the same on December 5, 2025, as it was in previous days, coming in at 5.99% and 5.37%, respectively. Refinance rates, however, declined on Friday to 6.62% for a 30-year term and 5.51% for a 15-year one, potentially opening new, cost-effective windows of opportunity for existing homeowners. Take the time this holiday season, then, to shop for rates, lenders and terms. You may qualify for an early holiday gift in the form of a more affordable purchase or refinance rate.
