Today’s Mortgage Rates, Dec 19: Stable Rates Spur 10% Rise in Purchase Demand

Today's mortgage rates are showing a welcome bit of stability. The national average for a 30-year fixed-rate mortgage is currently sitting around 6.21%, a figure that's thankfully lower than it was a year ago. This stability is a breath of fresh air for folks looking to buy, and it's even helping drive more people to apply for new mortgages. It makes a big difference, doesn't it? When you're planning one of the biggest financial decisions of your life, having some predictability is golden.

Today’s Mortgage Rates, Dec 19: Stable Rates Spur 10% Rise in Purchase Demand

What Are Today's Mortgage Rates?

Let's dive a bit deeper into what these numbers actually mean. I always like to look at a few different sources to get the full picture, and Freddie Mac's survey is a go-to for national averages. They released their most recent data, and it paints a clear snapshot of where things stand.

According to Freddie Mac's Primary Mortgage Market Survey® for the week ending December 18, 2025:

• 30-Year Fixed-Rate Mortgage: The average is 6.21%. This is a slight dip of -0.01% from the previous week but remains significantly lower than the -0.51% drop we saw over the last year. The 52-week average is 6.62%, showing that current rates are quite favorable compared to the past year. The 52-week range has been between 6.17% and 7.04%.
• 15-Year Fixed-Rate Mortgage: This option comes in at 5.47%. It saw a larger weekly drop of -0.07% and is down -0.45% year-over-year. The monthly average is 5.49%, and the 52-week average is 5.8%. The 52-week range for the 15-year fixed has been from 5.41% to 6.27%.

These figures from Freddie Mac are incredibly important because they represent broad trends across the country. They give us a solid baseline to understand the overall market.

But it's also smart to look at more specific rate providers. Zillow offers a more granular look at current rates, which can be very helpful for shoppers. Here's a breakdown of what they're seeing as of today, December 19, 2025:

Loan Type	Zillow Rate
30-Year Fixed	6.06%
20-Year Fixed	5.91%
15-Year Fixed	5.42%
5/1 ARM	6.02%
7/1 ARM	6.14%
30-Year VA	5.52%
15-Year VA	5.02%
5/1 VA	5.27%

It's important to remember that these are national averages, and your own rate could be different based on your specific situation.

Refinancing: Is It a Good Time?

Today's mortgage rates aren't just for new buyers; they're also a big deal for homeowners looking to refinance. Refinancing can allow you to lower your monthly payments, pay off your mortgage faster, or even tap into your home's equity.

Zillow also provides rates specifically for refinancing:

Loan Type	Zillow Refinance Rate
30-Year Fixed	6.13%
20-Year Fixed	5.99%
15-Year Fixed	5.60%
5/1 ARM	6.44%
7/1 ARM	6.72%
30-Year VA	5.70%
15-Year VA	5.43%
5/1 VA	5.57%

Notice how the refinance rates are generally a bit higher than the purchase rates. This is common, as lenders sometimes see a slightly higher risk with refinances. However, the gap isn't massive, and if you've been a homeowner for a while and your credit has improved, you might still be able to find a great deal to lower your current payment.

Why Are Rates Stable, and What Does It Mean for You?

The fact that the average 30-year fixed-rate mortgage has stayed within a narrow 10-basis point range over the last two months, as pointed out by Sam Khater, Freddie Mac's chief economist, is a significant detail. This stability is a major reason why we're seeing purchase applications jump 10% higher than this time last year.

From my perspective, this stability isn't just about numbers; it's about buyer confidence. When rates aren't drastically fluctuating week-to-week, it allows potential buyers to plan their budgets more effectively. They can get pre-approved with a clearer idea of what their monthly payments will be without the fear of rates skyrocketing before they can close on a home.

The Bigger Picture: Inflation, the Fed, and Your Mortgage

It's crucial to understand what influences these mortgage rates. While the Federal Reserve's actions – like interest rate cuts – directly impact short-term borrowing costs, long-term mortgage rates are more closely linked to what's happening with the 10-year Treasury yield and broader expectations about inflation.

Think of it this way: when investors are confident that inflation will remain under control, they're willing to accept lower yields on long-term bonds, which in turn can help keep mortgage rates down. Conversely, if inflation fears rise, bond yields tend to go up, pushing mortgage rates higher.

Even though rates have fallen about half a percent from last year, we can't ignore other financial pressures. High home prices, combined with persistent inflation that still affects everyday costs, continue to be hurdles for many aspiring homeowners. It means that even with more favorable mortgage rates, the overall affordability of a home is still a significant consideration.

Looking Ahead: Expert Predictions for Mortgage Rates

What does the future hold for today's mortgage rates? This is the million-dollar question for anyone in the market. Experts' crystal balls often show slightly different images, but there's a general consensus that we won't see a dramatic drop in rates anytime soon.

Most forecasters believe that rates will likely remain above 6% for the foreseeable future. For instance, Fannie Mae anticipates rates to be around 5.9% by the end of 2026. This suggests that while we might see some modest fluctuations, a return to the ultra-low rates of a few years ago is not on the immediate horizon.

This outlook reinforces the idea that if you're looking to buy or refinance, now is a good time to lock in a rate that works for your financial plan, rather than waiting for a massive drop that might not materialize.

Your Best Bet: Shop Around!

My biggest piece of advice, built from years of observing the housing market, is this: never take the first rate you're offered. Lenders are individuals with their own pricing structures and risk appetites. What one lender offers you could be significantly different from another.

Here are a few ways to make sure you're getting the best possible deal on today's mortgage rates:

• Compare Loan Offers: Reach out to multiple lenders – banks, credit unions, and mortgage brokers. Get writtenLoan Estimate forms from each.
• Know Your Financials: Before you start shopping, get your credit score in good shape. A higher credit score can unlock lower interest rates. Also, have your finances organized – pay stubs, tax returns, bank statements – to make the application process smoother.
• Understand Different Loan Types: Fixed-rate mortgages offer predictable payments, while Adjustable-Rate Mortgages (ARMs) might start with a lower rate but can change over time. VA loans and FHA loans often have unique advantages for specific borrowers.
• Consider Lenders Fees: Beyond the interest rate, look at the fees associated with each loan. Sometimes a slightly higher rate with lower fees can be a better overall deal.