Mortgage Rates Today, Nov 27: 30-Year Refinance Rate Climbs by 9 Basis Points

If you've been thinking about refinancing your mortgage, the numbers for November 27, 2025, show a slight upward tick for the most popular type of home loan. The national average for a 30-year fixed refinance rate has moved up to 6.81%, a jump of 9 basis points from yesterday's average of 6.72%, according to data released by Zillow. This means that if you were looking to refinance into a 30-year loan today, the cost of borrowing would be a bit higher than yesterday.

Mortgage Rates Today, Nov. 27: 30-Year Refinance Rate Climbs by 9 Basis Points

What That 9 Basis Point Increase Really Means for Your Wallet

Let's break down what a 9 basis point (or 0.09%) increase actually translates to for your monthly payment on a 30-year mortgage. Imagine you're looking to refinance a $300,000 loan.

• At 6.72%: Your estimated principal and interest payment would be around $1,939 per month.
• At 6.81%: That payment bumps up to approximately $1,961 per month.

That's a difference of about $22 each month. While $22 might not sound like a lot on its own, over the life of a 30-year loan, it adds up to a significant amount of extra interest paid. This is precisely why keeping a close eye on these rate movements is so crucial if refinancing is on your radar. It's these seemingly minor shifts that can have a real impact on your long-term financial well-being.

Looking at the Broader Refinance Picture

Beyond the headline-grabbing 30-year fixed rate, other loan types saw different movements on November 27, 2025.

• The 15-year fixed refinance rate actually saw a slight dip, moving down 4 basis points from 5.71% to 5.67%. This could be an attractive option for those looking to pay off their home faster and potentially save on interest over a shorter term.
• On the other hand, the 5-year adjustable-rate mortgage (ARM) refinance rate experienced a more significant jump, climbing 21 basis points from 7.32% to 7.53%. ARMs typically start with a lower rate than fixed-rate mortgages, but this increase suggests that even these introductory rates are becoming more expensive.

Here's a quick summary:

Mortgage Type	Rate on Nov. 27, 2025	Change from Previous Day	Change from Previous Week
30-Year Fixed Refinance	6.81%	+9 basis points	+3 basis points
15-Year Fixed Refinance	5.67%	-4 basis points	-1 basis point
5-Year ARM Refinance	7.53%	+21 basis points	+15 basis points

Data Source: Zillow

This mixed movement highlights that the mortgage market isn't moving in lockstep. For anyone considering refinancing, it's essential to look at the specific loan product that best fits their financial situation and goals.

Why the Upward Climb? Understanding Interest Rate Fluctuations

As someone who's followed the housing market for a while, I've learned that mortgage rates don't exist in a vacuum. They are deeply connected to the broader economic environment. When we see rates like the 30-year fixed refinance rate inching up, it's often a reflection of several factors:

• Inflationary Pressures: If inflation is showing signs of picking up, central banks might signal or enact policies to cool the economy down, which can lead to higher interest rates.
• Economic Growth: Strong economic growth can also put upward pressure on rates as demand for borrowing increases.
• Federal Reserve Policy: While the Fed doesn't directly set mortgage rates, its actions and pronouncements about interest rates and economic policy significantly influence them. When the Fed signals a more hawkish stance (meaning they're focused on controlling inflation, often through rate hikes), mortgage rates tend to follow.
• Bond Market Dynamics: Mortgage-backed securities, which are closely tied to long-term interest rates, are traded on the bond market. Investor sentiment and demand for these securities play a huge role. If investors demand higher yields on these bonds, mortgage rates go up.

It's a complex interplay, and what we see on a given day is often a reaction to recent economic data or news. The 9 basis point increase on November 27th is likely a response to some of these underlying economic signals.

Key Factors to Consider When You Refinance

The decision to refinance isn't just about the current rate. It's a strategic financial move, and there are several personal factors that come into play. Based on my experience, here are the critical considerations:

• Credit Score: This is arguably one of the most significant influencers of your refinance rate. A higher credit score (typically 740 and above) signals to lenders that you're a lower risk, and you'll likely qualify for the best available rates. If your credit score has improved since you last took out your mortgage, refinancing could be very beneficial. Conversely, if your score has dipped, you might not see the savings you expect.
• Loan-to-Value (LTV) Ratio: This ratio compares the amount you owe on your mortgage to the current appraised value of your home. Lenders generally prefer a lower LTV, meaning you have more equity in your home. A lower LTV often leads to better refinance rates and terms.
• Your Financial Goals: What do you want to achieve by refinancing?
  • Lower Monthly Payment: If your primary goal is to reduce your monthly outflow, a lower interest rate regardless of loan term is key.
  • Shorter Loan Term: If you want to pay off your mortgage faster and build equity quicker, a 15-year mortgage or refinancing to a shorter term on your existing loan might be the target.
  • Cash Out: Do you need access to funds for home improvements, debt consolidation, or other significant expenses? A cash-out refinance allows you to borrow more than you currently owe and receive the difference in cash.
• Closing Costs: Refinancing isn't free. There are closing costs involved, similar to when you first bought your home. These can include appraisal fees, title insurance, origination fees, and more. You need to calculate your “break-even point” – how long it will take for the monthly savings from your new loan to offset these upfront costs. If you plan to sell your home before you reach this point, refinancing might not be worthwhile.

The Role of Credit Scores in Refinancing

I can't stress this enough: your credit score is your golden ticket to good refinance rates. Think of it as your financial report card. Lenders use it to gauge your reliability in repaying borrowed money.

• Excellent Credit (740+): You'll likely qualify for the lowest advertised rates.
• Good Credit (670-739): You'll still get competitive rates, but perhaps not the absolute rock-bottom ones.
• Fair Credit (580-669): Refinancing might be challenging, and if approved, rates will be significantly higher.
• Poor Credit (Below 580): Refinancing is generally not an option, and focusing on improving your credit score should be the priority.

If you're unsure about your credit score, get a copy of your credit report from the major credit bureaus (Equifax, Experian, TransUnion) and review it for any errors.

Benefits of Refinancing, Especially for First-Time Homeowners

For those who purchased their homes relatively recently, especially first-time buyers who may have taken out a mortgage at a higher rate during a period of rising interest rates, refinancing offers a significant opportunity.

• Lowering Monthly Payments: This is the most immediate and tangible benefit. Lower payments free up cash flow for other savings goals, investments, or simply more breathing room in the budget.
• Reducing Total Interest Paid: By securing a lower rate, you can shave tens of thousands of dollars off the total interest you'll pay over the life of the loan.
• Converting to a Fixed Rate: If your initial mortgage was an ARM and rates have risen, but you anticipate they might fall in the future, refinancing into a fixed-rate mortgage can provide payment stability and protection against further rate hikes.
• Accessing Equity via Cash-Out: This can be a powerful tool for homeowners who need funds for home improvements that increase their home's value, consolidating high-interest debt, or funding education.

Understanding Adjustable-Rate Mortgage (ARM) Refinances

ARMs are a bit of a gamble, and the recent spike in the 5-year ARM refinance rate to 7.53% is a reminder of that. Here's how they generally work:

• Initial Fixed Period: An ARM usually has an initial period (e.g., 5, 7, or 10 years) where the interest rate is fixed and often lower than a traditional fixed-rate mortgage.
• Adjustment Period: After the fixed period ends, the interest rate adjusts periodically (usually annually) based on a benchmark index plus a margin.
• Rate Caps: ARMs have caps that limit how much the interest rate can increase at each adjustment and over the life of the loan.

Refinancing an ARM can be a smart move if:

1. Your fixed period is ending soon, and you want to lock in a predictable payment before the rate starts adjusting upwards.
2. Current fixed rates are lower than what your ARM will likely be after its first rate adjustment.
3. You don't plan to stay in the home for the entire duration of the loan's potential adjustment period, and you want to benefit from the initial lower rate without facing future uncertainty.

The 21 basis point increase in the 5-year ARM rate on November 27th suggests that lenders are pricing in higher future borrowing costs, making it potentially less attractive for those seeking long-term stability without careful consideration.

My Take on Today's Rates

From where I stand, the slight rise in the 30-year fixed refinance rate on November 27th, while noticeable, doesn't signal a dramatic shift that would invalidate refinancing for everyone. It does, however, underscore the importance of acting decisively when you find a rate that works for your financial goals and when the numbers clearly show a benefit after accounting for closing costs.

If you've been contemplating a refinance, I'd encourage you to:

• Get personalized quotes: Rates fluctuate daily and are highly personal. What Zillow reports is an average; your specific rate will depend on your credit, LTV, and other factors.
• Do the math: Calculate your break-even point diligently.
• Consider your long-term plans: How long do you anticipate staying in your home? This heavily influences whether a fixed or adjustable rate makes more sense.

The mortgage market is a dynamic beast, and staying informed is key. While today's numbers show a slight increase, it's just one data point in your overall financial journey.