Today’s Mortgage Rates, November 21: Rates Holds the Line With 30-Year FRM at 6.12%

Today's mortgage rates, November 21, 2025, are holding pretty steady, offering a bit of calm for anyone navigating the housing market right now. For months, mortgage rates have been playing in a really tight band, barely budging. This stability is a breath of fresh air, especially for folks trying to buy a home or sell their current one, because it means less guesswork and more predictability when you're looking at monthly payments.

Today's Mortgage Rates, November 21: Rates Holds the Line With 30-Year FRM at 6.12%

The Latest Numbers: What the Surveys Are Showing

So, let’s break down what the numbers are telling us. According to Freddie Mac's Primary Mortgage Market Survey®, as of November 20, 2025 (the most recent data available before my snapshot today), the average rate for a 30-year fixed-rate mortgage (FRM) was sitting at 6.26%. That’s just a hair up, by 0.02%, from the previous week. Looking back a whole year, though, rates are down a noticeable -0.58%.

For those considering a shorter loan term, the 15-year fixed-rate mortgage (FRM) was at 5.54% as of Freddie Mac's latest report. This one saw a slightly bigger jump week-over-week, up 0.05%, and is down -0.48% compared to this time last year.

Now, we also have newer data from Zillow Home Loans as of November 21, 2025. This gives us an even more current picture. The average 30-year fixed mortgage rate is around 6.125%, and the 15-year fixed rate is at 5.375%. They also note that a 7-year ARM (Adjustable-Rate Mortgage) is averaging 6.25%, and a 20-year FHA loan is at 6.000%. They even reported a 10-year fixed at 5.375%.

Loan Type	Average Rate
30-Year Fixed	6.125%
15-Year Fixed	5.375%
10-Year Fixed	5.375%
7-Year ARM	6.25%
20-Year FHA	6.000%

It’s important to remember that these are averages. Your own rate can and will vary depending on your credit score, down payment, the lender you choose, and other factors. But these figures really do give us a solid pulse on where the market is at.

Why the Stability? Unpacking the Market Forces

You might be wondering what’s keeping these rates from making big leaps or drops. It’s a mix of things, and frankly, it’s a lot of careful watching.

• The Federal Reserve's Shadow: A big player in all of this is the Federal Reserve. They’ve been tinkering with their benchmark interest rate, and their decisions ripple out to mortgage rates. While they’ve made some cuts earlier this year, the big question is what comes next. Will they cut again? Will they hold steady? This uncertainty has investors and lenders on their toes, which tends to create a more stable, albeit sometimes volatile, environment for rates.
• Economic Signals: Jobs and Beyond: We’re constantly looking at economic reports for clues. Yesterday, we saw a jobs report from the Bureau of Labor Statistics that showed the economy added 119,000 new jobs in early fall, which was actually better than many economists expected. That’s a good sign for the economy’s health. However, and this is a big but, the job numbers for July and August were revised down by a combined 33,000 jobs. Plus, due to some reporting shifts, a full October jobs report won't be released, with data being folded into the November report. This kind of mixed signal means there’s a lot to digest, and it prevents rates from making any drastic moves based on one piece of data.
• The “Lock-In” Effect: This is a big one I encounter a lot with homeowners. Many people who bought or refinanced when rates were at their absolute lowest a few years ago are now hesitant to sell. Why move and take on a new mortgage at a higher rate? This “lock-in” effect means fewer homes are hitting the market, which then impacts demand and, in turn, can influence rates.
• Market Sentiment Shift: Looking back, rates have definitely come down from their peaks earlier in 2025, which is a welcome change. Back then, the average 30-year fixed rate was often climbing above 7%. Now, we’re in the low 6% range. This drop, combined with the more cautious signals from the jobs market, is pointing towards a housing market that’s cooling down a bit as the year wraps up.

Comparing Today's Rates to the Past Year

It’s always helpful to put things in perspective. Here’s a quick look at how today’s averages stack up against the past 52 weeks, based on Freddie Mac’s data:

Mortgage Type	52-Wk Average	52-Wk Range (Low – High)	Current Rate (as of 11/20/25)
30-Yr FRM	6.65%	6.17% – 7.04%	6.26%
15-Yr FRM	5.83%	5.41% – 6.27%	5.54%

As you can see, current rates are sitting comfortably within the lower half of the 52-week range. This suggests an opportunity for buyers who might have been priced out earlier this year. However, the 52-week high is a stark reminder of how much rates can fluctuate.

How to Get the Best Mortgage Rate for You

Even with rates holding steady, getting the absolute best deal on your mortgage is still a game of smart preparation and savvy shopping. Here are my top tips:

• Boost Your Credit Score: This is king. A higher credit score signals to lenders that you’re a lower risk, and they’ll reward you with a better interest rate. Aim for 740 or higher if you can. Review your credit reports for errors and dispute them. Pay down credit card balances to keep your credit utilization low.
• Save for a Bigger Down Payment: While not always possible, a larger down payment can significantly reduce your loan amount and, in turn, impact your interest rate. It can also help you avoid private mortgage insurance (PMI) on conventional loans.
• Shop Around – Seriously! Don’t just go with the first lender you talk to. Get quotes from at least three to five different lenders (banks, credit unions, mortgage brokers). Compare the Annual Percentage Rate (APR), which includes fees, not just the interest rate.
• Be Prepared to Lock: Once you find a rate you like and you're ready to move forward, be sure to understand your options for “locking” that rate. This fixes it for a certain period, protecting you if rates go up before you close.
• Consider Different Loan Types: Depending on your situation, an ARM might offer a lower initial rate that could save you money if you plan to sell or refinance before the fixed period ends. Explore FHA or VA loans if they fit your eligibility.

What to Watch Next

As we move closer to the end of 2025, my focus will remain on a few key areas:

1. Federal Reserve Announcements: Any hint about future interest rate policy will be crucial.
2. Inflation Data: Persistent inflation could lead the Fed to keep rates higher for longer.
3. Housing Market Inventory: Will more homes come onto the market, or will the “lock-in” effect continue to dominate?
4. Economic Growth: Signs of a stronger or weaker economy will also play a role.

For now, I think it's fair to say that today's mortgage rates present a picture of relative calm and opportunity. It’s a good time to be informed, prepared, and to really understand what moves you're making.