Today’s Mortgage Rates, November 22: 30-Year Fixed Hits 6.11%, 15-Year Climbs to 5.62%

As November 22, 2025, rolls around, the excitement of finding today's mortgage rates feels a bit like watching paint dry – in a good way, for buyers and homeowners refinancing. The numbers haven't budged much for about six weeks, with major players like Zillow showing the average 30-year fixed mortgage rate inching up by just one basis point to 6.11%.

Similarly, the 15-year fixed rate nudged up five basis points to 5.62%. This isn’t a sign of trouble; it's more like the market taking a collective deep breath, waiting to see what the Federal Reserve and the wider economy will do next. For anyone with a mortgage from the not-too-distant past, especially one with a higher interest rate, this steady period could be your chance to snag a better deal.

Today's Mortgage Rates, November 22: 30-Year Fixed Hits 6.11%, 15-Year Climbs to 5.62%

Let's break down what the current average rates look like for those looking to buy a home (Zillow Home Loans). These are national averages, so your local rates might vary a bit, and they're usually rounded to the nearest hundredth.

Loan Type	Average Rate
30-year fixed	6.11%
20-year fixed	5.94%
15-year fixed	5.62%
5/1 ARM	6.17%
7/1 ARM	6.08%
30-year VA	5.58%
15-year VA	5.33%
5/1 VA ARM	5.32%

When I look at these figures, especially the 30-year fixed at 6.11%, I see a rate that's still quite attractive when you compare it to where we were just a year ago. Those who remember rates well over 7% earlier in the year will appreciate this relative calm. It’s making homeownership accessible for a good chunk of people, which is fantastic news for the housing market overall.

Adjustable vs. Fixed vs. VA: What's Drawing Attention?

The data clearly shows that fixed-rate mortgages continue to be the preferred choice for most borrowers. Why? Stability. In a world of economic uncertainty and whispers about potential future changes from the Federal Reserve, locking in a rate for 15, 20, or 30 years provides peace of mind. The slight increase in the 30-year fixed to 6.11% and 15-year fixed to 5.62% hasn't shaken this preference.

Adjustable-rate mortgages (ARMs), like the 5/1 ARM at 6.17% and the 7/1 ARM at 6.08%, remain a bit higher. This is because they carry a bit more risk for the borrower – the rate will go up after the initial fixed period. Unless someone has a very specific short-term plan or anticipates rates dropping significantly in the future, the predictability of a fixed term usually wins out.

For our heroes – the veterans and active-duty service members – VA loan rates continue to be a bright spot. At 5.58% for a 30-year fixed and 5.33% for a 15-year fixed, these are incredibly competitive. It's a testament to the benefits provided for those who have served, and I always encourage eligible individuals to explore these options.

Refinance Rates: Is It Still Worth Making a Change?

Now, let's talk about refinancing. This is an area where I often see a lot of questions. The numbers from Zillow show that refinance rates are typically a little higher than purchase rates, which is common in the market. For instance, the 30-year fixed refinance rate is sitting at 6.28%, a slight bump from earlier. The 15-year fixed refinance is at 5.73%, and the 20-year fixed at 6.19%.

Loan Type	Average Rate
30-year fixed	6.28%
20-year fixed	6.19%
15-year fixed	5.73%
5/1 ARM	6.40%
7/1 ARM	6.43%
30-year VA	5.64%
15-year VA	5.30%
5/1 VA ARM	5.35%

Even with these slightly higher refinance rates, my advice is always to run the numbers. If you have an older mortgage with a rate significantly above, say, 7%, refinancing could still save you a substantial amount of money over time. Think about your remaining loan term, the closing costs involved, and how long you realistically plan to stay in your home. Sometimes, even a small drop in your interest rate can add up to tens of thousands of dollars saved. And for those who own a home and are eligible for a VA refinance, the rates like the 30-year VA at 5.64% are definitely worth a serious look.

Key Developments Shaping Today's Mortgage Market

While the numbers themselves are steady, there’s a lot happening behind the scenes that influences them.

• Recent Stability: As mentioned, after some earlier wobbles, rates have settled down. This lull is expected to continue through the weekend, with larger shifts more likely to occur early next week.
• The December Rate Cut Speculation: There have been interesting comments from Federal Reserve officials. One New York Fed official recently suggested that there might indeed be room for a rate cut in December. This news did cause a bit of a dip in rates briefly. However, the market’s prediction for a December cut is still very much a question mark – uncertainty reigns!
• A Year of Improvement: It’s easy to forget how much things have changed. Remember the start of 2025, when a 30-year fixed rate was hovering over 7%? Today's rates in the low 6% range are a huge improvement, making a significant difference in monthly payments and overall housing market health.
• Looking Ahead to 2026: Experts like Lawrence Yun, the chief economist at the National Association of Realtors, are predicting modest rate declines into 2026. We might see average rates settle around 6%. This long-term outlook is encouraging for both buyers and sellers.
• The 50-Year Mortgage Idea: You might have heard buzz about a potential 50-year mortgage option. This is an interesting concept designed to significantly lower monthly payments by stretching the loan repayment period even further. However, it’s crucial to understand that while your monthly payment might be lower, you'll pay a lot more in total interest over the life of the loan. It’s a trade-off that needs careful consideration.
• Bond Market Beat: The yield on the 10-year Treasury bond is a key influencer of mortgage rates. Recently, falling Treasury yields have been a major factor in helping to keep mortgage rates down. It’s a constant tug-of-war, but right now, the bond market is lending a hand.

My Take:

From where I stand, these steady rates are a double-edged sword. For buyers, it’s a welcome period of predictability, allowing them to secure a home without the constant worry of rates jumping dramatically. The accessibility, especially compared to earlier this year, is a positive sign for market activity.

For homeowners thinking about refinancing, this stability is your window to act. While rates aren't at their absolute lowest, they are significantly better than many existing loans. I’d strongly advise anyone with a rate above 7% to at least reach out to a lender and get personalized quotes. Compare offers, understand all the fees, and see if a refinance makes financial sense for your specific situation. Don’t let this period of calm pass you by if you have room to significantly improve your monthly housing cost.

Remember, these figures are national averages. Your personal financial situation, credit score, down payment, and location will all play a role in the exact rate you qualify for. It’s always best to speak with a trusted mortgage professional to get the most accurate picture for your unique circumstances.