The average 30-year fixed rate mortgage was 6.16% yesterday, unchanged since the day before. The 15-year fixed mortgage rate stood at 5.31%, the same as one the day before. The 30-year FHA mortgage averaged 5.6% yesterday, having stayed the same. Meanwhile, the 30-year jumbo mortgage rate was 6.65%, reflecting no change.
The bigger picture
Mortgage borrowers ended the year on a high — or, rather, a 2025 low — on Wednesday, according to Freddie Mac's latest weekly average.
"After starting the year close to 7%, the average 30-year fixed-rate mortgage moved to its lowest level in 2025 this week, an encouraging sign for potential homebuyers heading into the new year,” said Sam Khater, Freddie’s chief economist, in an emailed statement.
The average for a 30-year fixed-rate mortgage was 6.15% that week. Meanwhile, those rates were unchanged on Wednesday itself, and closed that day at 6.15%, too, according to ICanBuy.
This is clearly good news for those wanting a new mortgage. However, bear in mind that mortgage rates tend to fall when the economy is weak and rise when it is strong. So, not everyone will be celebrating.
Today
Today's lone economic report is December's purchasing managers' index (PMI) from S&P Global for the manufacturing sector. PMIs do sometimes move mortgage rates, but we'll be surprised if this one has much impact. Manufacturing PMIs tend to be less important than ones for the services sector, and S&P ones are typically less influential than those from the Institute for Supply Management (ISM).Next week
Next week brings a raft of important economic reports, culminating in that Friday's jobs report for December. In most months, that report is the one with the potential to shift mortgage rates furthest.There are fairly important reports on every day next week, but that one on Friday could set the mood in markets for weeks to come.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.16% | 6.19% | +0% | -0.11% |
| 15-Year Fixed | 5.31% | 5.36% | +0% | -0.08% |
| 30-Year Fixed FHA | 5.6% | 6.81% | +0% | +0.02% |
| 30-Year Fixed VA | 5.7% | 5.84% | +0% | +0.05% |
| 30-Year Fixed USDA | 5.61% | 5.76% | +0% | +0% |
| 30-Year Fixed Jumbo | 6.65% | 6.67% | +0% | -0.16% |
| 5/6 Year ARM | 6% | 6.04% | +0% | -0.05% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.2% | 6.23% | +0% | -0.15% |
| 15-Year Fixed | 5.31% | 5.35% | +0% | -0.07% |
| 30-Year Fixed FHA | 5.55% | 6.76% | +0% | -0.02% |
| 30-Year Fixed VA | 5.76% | 5.9% | +0% | +0.08% |
| 5/6 Year ARM | 6.02% | 6.05% | +0% | -0.04% |
What's coming up?
Although economic reports are usually the main drivers of changes to mortgage rates, they're not the only ones. The general mood in markets and economically consequential news can also affect those rates. News items concerning employment, inflation, tariffs and deficit funding are especially influential at the moment.
Mortgage rates today
There is just one economic report on today's MarketWatch economic calendar. Markets are expecting S&P Global's manufacturing PMI for December to weaken very slightly to 51.7 from 51.8 previously.
Typically, mortgage rates rise on news that is better than expected for the economy, and fall when that news is worse than expected. So, we'd like to see a PMI below 51.7 today. However, don't expect big movements in those rates unless the gap between actuals and expectations is wide.
