Mortgage Rates Today, Dec 22: 30-Year Refinance Rate Rises by 9 Basis Points

The mortgage refinance market is showing a slight uptick today, December 22, 2025, with the popular 30-year fixed refinance rate climbing by 9 basis points to 6.74%, up from last week's average of 6.65%. This modest increase suggests that homeowners looking to refinance should carefully consider their options, as rates are showing a subtle upward trend.

Mortgage Rates Today, Dec 22: 30-Year Refinance Rate Rises by 9 Basis Points

It’s that time of year again, when we all start to think about year-end finances, and for many of us, that includes our homes. Refinancing your mortgage is a big decision, and when rates start to move, it definitely gets your attention. Today, I'm looking at the latest numbers from Zillow, and they show a small but significant shift in refinance rates. While it’s not a dramatic jump, it’s enough to make you pause and think about what it means for your own financial picture.

What Are the Current Refinance Rates?

Let's get straight to it. According to Zillow's latest update for Monday, December 22, 2025, here are the national average rates for different types of refinance loans:

• 30‑year fixed refinance: 6.74% (this is up 8 basis points from yesterday and 9 basis points from the previous week)
• 15‑year fixed refinance: 5.69% (this rate has also seen a small increase)
• 5‑year ARM refinance: 7.22% (this adjustable-rate mortgage option has seen a more noticeable jump)

These figures are national averages, and it's important to remember that your actual rate could be different. Things like your credit score, the type of loan you choose, and even which lender you pick can all affect the final rate you get.

Digging Deeper: What Do These Numbers Really Mean?

I find it’s helpful to break down what these percentages actually mean for us homeowners.

• The 30‑year fixed refinance at 6.74% is still the go-to choice for most people. Why? Because it offers predictable monthly payments, which makes budgeting much easier. While that slight increase might feel like a minor annoyance, it does mean borrowing a bit more money costs just a touch more than it did a week ago. Over the life of a 30-year loan, even small changes can add up.
• The 15‑year fixed refinance at 5.69% is where you typically find better rates and a faster way to pay off your home. The trade-off is a higher monthly payment. This particular rate has also inched up by about 6 basis points. Even with this small bump, the long-term savings on interest compared to a 30-year loan are usually quite significant, making it an attractive option for those who can afford the higher payments.
• The 5‑year ARM refinance at 7.22% is a different beast. These loans start with a fixed rate for five years, and then the rate can change every year after that. The jump of 12 basis points here makes ARMs a bit less appealing right now, especially if you're someone who prefers knowing exactly what your housing payment will be without any surprises. Given the increase, the stability of a fixed-rate loan looks more attractive.

Why the Slight Increase in Rates? A Look Under the Hood

So, what's causing these rates to nudge upwards? It’s rarely just one thing, but a few key factors are likely at play:

• Economic Data: We've been seeing economic reports that suggest inflation isn’t quite gone yet. When the economy is showing signs of heating up, investors tend to get a little nervous about how that might affect the value of their money in the future, and that can push up interest rates.
• Federal Reserve Signals: The Federal Reserve, our central bank, plays a huge role in setting the tone for interest rates. They've been cautious about cutting rates too quickly. Their signals often indicate they want to see more proof that inflation is under control before they make big moves, and this caution can keep mortgage rates from dropping.
• Bond Market Fluctuations: Mortgage rates are closely tied to the bond market, specifically mortgage-backed securities. When demand for these bonds changes, or when their yields (the return investors get) go up, mortgage lenders usually have to charge higher interest rates to make their loans competitive.

Even a move of just a few basis points might sound small, but trust me, over a 15 or 30-year mortgage, that can translate into thousands of dollars more paid in interest. It's the compounding effect that makes even these small shifts so important to track.

What This Means for You: Should You Refinance Now?

This is the million-dollar question, isn't it? For homeowners thinking about refinancing, this current rate environment presents a bit of a mixed bag: a chance to lock in a rate before it potentially goes up further, but also the possibility of waiting for a dip if economic conditions improve.

I’ve been observing these markets for a while, and my gut feeling is that we’re in a period of watchful waiting. While rates have ticked up slightly, they’re not at the heights we saw just a year or two ago. It’s a delicate balance.

Here’s how I see it:

• Consider Locking In Sooner Rather Than Later: If you've been on the fence about refinancing and are nervous that rates might continue to climb, locking in your rate now can provide peace of mind and guard against higher future costs.
• Don't Underestimate Shopping Around: This is always my biggest piece of advice. Even a quarter-point difference in your rate, or lower fees, can save you a significant amount of money over the life of your loan. Get quotes from at least three different lenders.
• Think About Shorter Loan Terms: If you can swing it financially, a 15-year mortgage will save you a ton on interest compared to a 30-year loan, and you'll own your home free and clear much faster.
• Re-evaluate Those ARMs: With the 5-year ARM rate showing a bigger jump, it's crucial to run the numbers carefully. The initial savings might not be as compelling as they were when rates were lower, and the risk of future payment increases is more pronounced.

The Big Question: Refinance Now or Wait for a Potential Dip?

This is where personal finance meets market analysis. Rates are currently creeping upward, but they are still relatively stable when you compare them to the super-volatile times we’ve experienced in recent years.

Reasons to Consider Refinancing Right Now

• Securing Stability: If you're worried about rates continuing to climb, locking in today’s rate gives you certainty. You know what your new payment will be, and you can plan your finances accordingly.
• Meeting Cash Flow Needs: Perhaps your primary goal is to lower your monthly payment to free up cash for other expenses, or to consolidate debt. If refinancing achieves that, it might be worth doing now, even if rates tick up a little more.
• Accessing Home Equity: Do you need to tap into your home's equity for a renovation, an investment, or an unexpected expense? Refinancing can be a way to do that, and acting now ensures you get it done at a predictable cost.

Reasons to Hold Off and Potentially Wait

• Hoping for Rate Relief: Inflation has shown signs of cooling in recent months, and some financial experts are predicting that rates could gradually come down at some point in 2025. If you don't have an urgent need to refinance, waiting could potentially lead to better savings down the line.
• Short-Term Financial Flexibility: If your current financial situation is comfortable and you don't desperately need to lower your monthly payments, waiting gives you flexibility. You can continue to monitor the market, and if rates do dip, you could benefit.
• Considering Closing Costs: Refinancing isn't free; there are closing costs involved. If you wait for rates to drop more significantly, the math might work out better for you, making the decision to refinance more advantageous after factoring in all the expenses.

A Quick Comparison

To help you visualize, here’s a little chart:

Factor	Refinance Now (at 6.74%)	Wait for Possible Dip
Rate Certainty	✅ Locked in	❌ Uncertain
Monthly Payment	✅ Immediate Savings	❌ Delayed
Risk of Higher Rates	❌ If rates climb more	✅ Could benefit
Closing Costs	✅ Paid Now	✅ Paid Later (maybe lower)
Equity Access	✅ Immediate	❌ Delayed

My Key Takeaway

Ultimately, the best strategy hinges on your personal financial situation and comfort level with risk.

• Refinance now if you highly value certainty, desperately need to improve your cash flow, or want to lock in a rate before any further increases.
• Wait if your finances are stable, and you’re willing to gamble on the possibility of rates easing later in 2025.

My best advice? Shop around with multiple lenders right now. Even if you don't plan to refinance immediately, seeing what offers are available can give you a concrete picture. If the current offers don't meet your goals, then continue to monitor the rates closely, especially as we head into the early part of 2026.

The Bottom Line

As of December 22, 2025, refinance rates are nudging higher, with the key figures being:

• 30‑year fixed refinance: 6.74%
• 15‑year fixed refinance: 5.69%
• 5‑year ARM refinance: 7.22%

While these increases are small, they serve as a good reminder that the mortgage market is always moving. Timing and diligence in comparing lenders are key to getting the best deal for your homeownership journey. Acting now can still secure you relatively stable rates before any potential further shifts.