Today’s Mortgage Rates November 13: 30-Year FRM Holds at 6.13%, 15-Year FRM Drops to 5.59%

For Today’s Mortgage Rates, November 13, the answer is pretty straightforward: No—we’re sitting still. According to data compiled by Zillow, the overall market is in a holding pattern. The average 30-year fixed mortgage rate is pegged at 6.13%, sticking tightly to the spot it has occupied for the past week. We are seeing stability, though perhaps stability at a higher price than most buyers would like.

I’ve been watching these numbers for a long time, and what I see right now is a market desperately waiting for a clear sign, a definite signal from the economy that isn’t coming yet. Rates are steady because the forces pulling them up and pushing them down are perfectly balanced—a tough place to be if you’re trying to make a big financial decision.

Today's Mortgage Rates November 13: 30-Year FRM Holds at 6.13%, 15-Year FRM Drops to 5.59%

What’s Happening Today?

When we look beneath the headline number, we see minor movements, but nothing that signals a major shift. The core reason for this recent stagnation is that the 10-year Treasury yield, which is the actual boss of mortgage pricing, has been drifting sideways.

If the 10-year Treasury yield doesn't move, neither do mortgage rates. It’s that simple. There hasn't been a big economic report lately, no major change in inflation expectations, and no surprise moves from global markets. When the economy hits the pause button, mortgage markets usually follow suit.

The slightly good news is seen in the shorter terms. The 15-year fixed rate has dropped just a bit to 5.59%. While this is a subtle edge, for anyone who can swing the higher monthly payment of a 15-year loan, this rate offers a meaningful discount compared to the 30-year option.

Let's break down where the rates are sitting right now, based on the latest data from Zillow. Remember, these are national averages. When you talk to a lender, your rate will likely be different depending on your credit score, location, and down payment.

Breaking Down the Numbers: Today's Mortgage Rates

Loan Type	Average Interest Rate	Commentary
30-year Fixed	6.13%	The baseline rate, remaining stable this week.
20-year Fixed	6.04%	A small efficiency gain for those who want to pay off faster.
15-year Fixed	5.59%	The most attractive fixed rate for many buyers today.
30-year VA	5.77%	Generally reserved for eligible military borrowers.
15-year VA	5.39%	The lowest fixed rate option available today.
5/1 ARM	6.47%	Starting rate higher than 30-year fixed, signaling caution.
7/1 ARM	6.52%	Slightly higher than the 5/1 ARM start rate.
5/1 VA	5.56%	A competitive starting rate for VA borrowers looking for flexibility.

Refinancing Reality Check

For current homeowners, the thought of refinancing remains tempting, but frankly, the numbers are still discouraging for most people. If you locked in a rate any time before 2022, chances are your current rate is better than what the market offers today.

Refinance rates are typically a little higher than purchase rates because lenders account for the risk and effort involved in structuring a new loan for an existing debt.

Here's the outlook on refinance rates today, also sourced from Zillow:

Refinance Loan Type	Average Interest Rate (Zillow)
30-year Fixed Refi	6.27%
20-year Fixed Refi	6.11%
15-year Fixed Refi	5.75%
30-year VA Refi	5.83%
15-year VA Refi	5.79%
5/1 ARM Refi	6.59%
7/1 ARM Refi	7.01%
5/1 VA Refi	5.51%

I find the 7/1 ARM Refi rate particularly interesting—it’s jumped all the way up to ***7.01%***. This high rate shows that lenders are either nervous about locking in rates for seven years without adjusting, or they simply aren’t interested in taking on a lot of new ARM refinancing business right now. If rates are already stable, why risk an ARM that starts this high? It’s a good example of the caution in the current lending environment.

Diving Deeper: Why Are Rates Stuck Here?

We have to face a harsh truth: The days of 3% or 4% mortgages are likely gone forever, or at least for a very long time.

My personal expertise tells me that borrowers need to stop comparing today's rates to the unique, pandemic-era low points. Those low rates required unprecedented central bank intervention and zero inflation—conditions we will not see again soon.

Even though the Federal Reserve has already executed some rate cuts earlier in 2025, those cuts affect short-term bank borrowing—not long-term mortgages. Mortgage rates are firmly tied to the 10-year Treasury yield, and that bond yield is terrified of one thing: Inflation.

When investors look at the economy and think inflation might rear its head, they demand a higher rate of return to compensate for the risk that their money won't buy as much in ten years. This demand drives the Treasury yield up, which drags the mortgage rate up with it.

Right now, the consensus is that inflation is calming down, but it’s still persistent. It’s sticky. Until we see solid, monthly evidence that inflation is truly tamed and locked down, the 10-year Treasury will likely sit where it is, keeping Today’s Mortgage Rates November 13 in this mid-6% territory.

My Take: What This Means for Buyers

If you are waiting for rates to drop below 5% before you buy, you might be waiting for two or three more years, or perhaps longer. My advice is often the same: focus on affordability and re-evaluation.

1. Marry the House, Date the Rate: If you find the right house, don't let a quarter-point scare you off. You plan to live in the house for ten years, but you might only keep this particular mortgage rate for two or three years. With rates stable in the 6% range, the time to buy might be now, with the plan to refinance if rates dip significantly in 2027 or 2028.
2. Focus on the Payment, Not Just the Rate: At 6.13%, you should be absolutely crunching the budget. Can you comfortably afford this monthly payment? If the answer is yes, then worrying about where rates might go next month is just unnecessary stress.

Decoding the Forecasts: What 2026 Looks Like

Based on the overall stability we are seeing right now, most housing economists are in strong agreement: the mid-to-low 6% range is the new normal for the time being. No major authority predicts a return to the pandemic lows.

The question now is how far those predictions diverge as we look ahead to 2026. The key discrepancy revolves around how quickly various experts think inflation will subside entirely.

Here is a look at what major housing organizations project for the 30-year fixed mortgage rate average by the end of 2026:

Authority	Projected 30-Year Fixed Rate (End of 2026)	Interpretation
Fannie Mae	5.9%	The most optimistic large-scale forecast, relying on a mild economic slowdown and continued Fed cuts.
National Association of Realtors (NAR)	6.0%	Predicts slow, steady relief, bringing rates right to the 6% mark.
National Association of Home Builders (NAHB)	6.19%	A very bearish forecast, anticipating rates will hold near today’s average.
Mortgage Bankers Association (MBA)	6.4%	The most pessimistic forecast, suggesting rates might actually creep higher than today's number.
Zillow Home Loans	6% to 7% Range	Keeps expectations broad, acknowledging volatility but setting a high floor.

It is clear from this table that the most aggressive downside prediction is only 5.9%. To me, this confirms that anything below 6% will be seen as a victory for borrowers in the near future. The market has priced in the current risk, and it’s very reluctant to lower that price tag.

Key Factors Holding Rates Steady

If we’re going to understand why the forecasts look this way, we have to grasp the three main levers that are preventing a rate drop:

1. Federal Reserve Actions (Indirect Impact): Yes, the Fed has cut short-term rates in 2025 (in a move to stimulate the economy), but this doesn't directly shift mortgage rates. Mortgage rates are driven by the long-term bond market, which is focused on future inflation, not immediate short-term bank policy.
2. Inflation Concerns (The Big Worry): This is the root problem. Despite some cooling, if service costs, labor costs, or energy prices spike unexpectedly, those long-term bond investors will get nervous instantly, driving the 10-year Treasury—and thus your mortgage rate—back toward the 7% mark.
3. Housing Supply and Demand (The Buyer Problem): The moment rates tick down toward 5.8%, what do you think happens? Every buyer who has been sitting on the sidelines jumps back into the market. This surge in demand creates competition, drives up home prices, and basically negates the benefit of the slightly lower rate. This cycle creates a soft ceiling for rate decreases.

Final Thoughts on Moving Forward

As we close out 2025, the stability in rates should be viewed as a sign of maturity in the market, not a sign of failure. The volatility of the past years seems to have subsided, and we are now working with a steady target.

If you are planning to purchase a home or refinance a debt, use the current stability to secure a strong rate lock—a process where the lender promises you the current rate for a specific period of time. Shop around, be prepared, and secure the best rate you can within this predictable mid-6% range. The worst thing you can do now is wait for a miracle that isn't coming.