What are today's mortgage interest rates: November 14, 2025?
Homebuying during the holiday season may be a bit unconventional, but this year it may actually make sense. With Thanksgiving less than two weeks away, many prospective buyers may understandably want to delay their house hunt until 2026 and maybe even into the traditional spring homebuying season. But that could actually be a mistake now.
Mortgage interest rates have been largely declining for much of 2025, providing new timely windows of opportunity for buyers who have been sidelined in recent years thanks to rates that had surged in response to inflation and Federal Reserve rate hikes. But the central bank has cut rates multiple times over the past year and mortgage rates have responded well, falling to a 3-year low multiple times just in the past two months. So, if you want to exploit these lower rates and want to keep competition amid buyers minimal thanks to the holidays, now be a smart time to act.
But what are today's mortgage interest rates, exactly? Below, we'll break down what you need to know right now.
See how low your current mortgage interest rate offers are here.
What are today's mortgage interest rates?
The average mortgage interest rate on a 30-year mortgage term is 6.00%, as of November 14, 2025 according to Zillow. If you prefer a shorter term, you'll be rewarded with a lower rate as the average rate on a 15-year mortgage is now just 5.50%. Both figures represent real savings opportunities for buyers, especially those considering a 30-year mortgage as the average rate there was hovering over 7% just in January of this year.
By acting now, buyers will likely encounter less homebuying competition during the holiday season. Home prices may also be more negotiable now than they'd otherwise be during a different time of the year. And if they lock in one of today's low mortgage interest rates now, and rates decline in the weeks ahead, prior to closing, buyers can always explore their mortgage rate float-down options at that point. In the interim, they'll be protected against any market volatility that impacts rates adversely.
Compare your current mortgage rate offers and lenders online today.
What are today's mortgage refinance rates?
The average mortgage refinance rate on a 30-year mortgage is 6.95%, as of November 14, 2025, according to Zillow. That offers a savings opportunity for very few homeowners as the conventional wisdom dictates that refinancing is only valuable for those who can secure a rate one full percentage point lower than their existing one. So, in this scenario, you'd need a mortgage of 7.95% to justify acting. That said, some owners may see real savings even with a rate that's half a percentage point lower, so don't dismiss these rates entirely without first seeing how you may be able to benefit.
Meanwhile, the average mortgage refinance rate on a 15-year term is 5.83% as of November 14, 2025. So, you may be able to secure real interest savings by refinancing to this lower term, if you can afford the condensed, larger monthly payments. It won't be an option for all homeowners, but today's sub-6% rate is definitely worth exploring, especially for those looking to pay a lower rate while expediting their payoff timeline.
The bottom line
The average mortgage interest rate on a 30-year term is 6.00% as of November 14 and 5.50% for a 15-year alternative. Refinance rates on a 30-year mortgage are 6.95% now and 5.83% for 15-year options. Consider doing your research, then, to take advantage of the opportunity this holiday season. And remember that these are just averages. With a good credit score and time spent shopping for lenders and rates, you may be able to lock in an even lower option now.
