Current mortgage rates today: steady near mid-6s as markets await fresh inflation data

Mortgage rates are holding in a narrow band to start the week, with the national 30-year fixed average hovering around 6.2%–6.35% on Monday, November 24, 2025. After several weeks of small, back-and-forth moves, the broader trend remains a “slow grind lower” from early autumn peaks, but without the kind of decisive drop that would unleash a new wave of demand.

Mortgage rates news: what moved the market

The quiet start reflects three forces pulling in different directions:

• Bond yields have leveled off. The 10-year Treasury—key for mortgage pricing—has spent the past month oscillating in a tight range, removing the day-to-day shocks that pushed mortgage quotes around earlier this fall.

• Data gap before the holidays. With no blockbuster economic releases until mid-week, lenders are reluctant to mark rates aggressively lower.

• Fed path still “cuts, but cautious.” Markets expect additional policy easing in coming meetings, yet officials continue to stress a gradual approach. That mix has kept mortgage spreads from compressing quickly.

Today’s snapshot: purchase vs. refi

• 30-year fixed (purchase): commonly ~6.20%–6.35% for strong-profile borrowers.

• 30-year fixed (refinance): often a touch higher, ~6.30%–6.40%, reflecting refi-specific pricing and lower competitive pressure.

• 15-year fixed / ARMs: pricing varies more by lender this week; borrowers with ample equity and high credit scores are still seeing meaningful discounts versus 30-year offers.

Note: Quotes above are national averages and ranges observed across multiple daily and weekly rate trackers. Your exact offer will depend on credit, loan size, property type, points, and lock term.

The weekly read: stability is the story

Recent weekly surveys show the 30-year fixed near 6.26% as of Thursday, November 20, with day-to-day retail averages clustering within roughly ±10 basis points since late October. That stability has helped some buyers re-enter the market, though purchase applications remain sensitive to even small rate changes. Refinance activity is tilting toward cash-out and term-shortening scenarios rather than pure rate-and-term deals—unsurprising with many homeowners still holding sub-5% pandemic-era loans.

Should you lock or float?

• Lock now if you have a signed contract closing within 30–45 days, or if your debt-to-income ratio is tight and a small rate bump could jeopardize approval.

• Careful float if you’re earlier in the search, have cushion in your qualifications, and want to see if mid-week data nudges yields lower.

• Consider points: In a stable-but-elevated environment, paying modest points to buy down the rate can pencil out, especially if you plan to hold the mortgage beyond the breakeven horizon.

How to get the best current mortgage rate

1. Collect three to five same-day quotes with identical assumptions (loan amount, property type, down payment, lock length, points).

2. Mind the lock period. A 30-day lock is usually cheaper than 60 days; align it with your closing timeline.

3. Price credits vs. out-of-pocket. Zero-point or lender-credit options can preserve cash at closing; run the math over the time you expect to keep the loan.

4. Optimize your profile. Every 20-point credit-score band and lower loan-to-value tier can move pricing; paying down cards before underwriting sometimes bumps you into a better bucket.

5. Ask about float-down policies. Some lenders allow a one-time rate improvement if markets rally before closing—know the rules upfront.

What could change mortgage rates next

• Inflation prints (mid-week): A cooler-than-expected reading could push yields down and nudge mortgage quotes lower; a surprise to the upside likely does the opposite.

• Labor data after the holiday: Wage gains and payroll momentum remain the swing factors for the Fed’s pace of easing.

• Mortgage-bond demand: If spreads to Treasurys compress—via stronger investor appetite or supportive policy chatter—consumer rates could improve even if the 10-year is flat.

Quick reality check for buyers and owners

• Affordability math: Each 0.125% change in rate moves the monthly payment by roughly $8 per $100,000 borrowed on a 30-year term.

• Recast or refi later: If you buy now and rates move meaningfully lower, a future recast (after a large principal payment) or no-cash-out refinance can realign payments.

• Be underwriting-ready: Verified income, assets, and a locked-in insurance quote can shave days off processing—useful if you’re chasing a shorter, cheaper lock.

For current mortgage rates, the theme on November 24, 2025 is stability: averages clustered in the mid-6s with narrow intraday swings. That favors borrowers who are organized and ready to lock on dips, while the broader market waits for the next data catalyst to break the stalemate.