What are today's mortgage interest rates: December 9, 2025?
All eyes turn toward the Federal Reserve today as the central bank meets for its final meeting of 2025. Hope for another interest rate cut is now high. A cut in the form of 25 basis points is expected to be issued on Wednesday as the bank makes a continuing effort to stimulate the economy amid unemployment concerns. A cut there, the third such one in four months, could continue to result in lower interest rates for borrowers.
But homebuyers and owners hoping to refinance may find that rates here are already low enough to support taking action. Mortgage interest rates have steadily declined for much of 2025 after starting in January at over 7%. Rates hit 3-year lows multiple times in recent months and are poised to continue that trend, possibly as soon as this week, depending on what comes out of this Fed meeting. And some lenders may have already accounted for this week's rate cut, pricing in that reduction preemptively into their offers.
So, what are today's mortgage interest rates as of December 9, 2025? Below, we'll detail exactly what you need to know to determine your next move.
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What are today's mortgage interest rates?
The average mortgage interest rate on a conventional 30-year term is 6.12% as of December 9, 2025, according to Zillow. That marks a slight jump from the 5.99% rate that was available over the last week, approximately. The average rate on a 15-year term, however, remained the same overnight, sticking at 5.37%.
While these aren't exactly as low as what was generally available at the start of the decade, both are materially lower than what was available at the beginning of 2025 and often throughout 2024 and 2023, so there's an opportunity here that was simply unavailable for homebuyers in recent years. And considering that these are just averages, qualified homebuyers may want to take the time to shop around to see what else is available, as there may be even lower offers listed online now.
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What are today's mortgage refinance rates?
The average mortgage refinance rate on a 30-year term fell on December 9, 2025, from 6.68% to 6.57%, according to Zillow. The average refi rate on a 15-year term also declined overnight, from 5.68% to 5.50%. So there are now multiple viable ways in which homeowners who got stuck with 7%-plus rates in 2023 or 2024 can now refinance and save on monthly interest costs.
While most experts recommend waiting to refinance until you can secure a new rate that's a full percentage point lower than your existing one, even a half a percentage point difference may be enough to justify taking action. Crunch the numbers then – and don't forget about mortgage refinancing closing costs – to see if it makes sense to get started with a refinance application now.
The bottom line
The median mortgage interest rate on a 30-year term is currently 6.12% and 5.37% for a 15-year option. Refinance rates as of December 9, 2025, sit at 6.57% for a 30-year term and just 5.50% for a 15-year option. But with another Fed rate cut looming, this week could be the smart time to increase your monitoring of the mortgage rate climate. New and timely affordable rate opportunities could present themselves shortly, so it makes sense to start preparing for such a scenario. It took a long time for mortgage interest rates to fall low enough to justify taking action, so buyers and owners hoping to refinance should prepare to take advantage now that new opportunities are presenting themselves again.
