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For many homebuyers and owners looking to refinance, the holidays may have come a bit early this year. The Federal Reserve issuing an interest rate cut on Wednesday – its third in the last four months – served as a welcome early holiday gift for millions. Fed rate cuts, after all, go a long way toward reducing borrowing costs. And that’s been especially needed in the mortgage rate climate, as rates here just two years ago surged to their highest level since 2000.
But mortgage interest rates have gradually declined for much of this year and, after yesterday’s Fed rate cut, may fall a bit further, depending on how lenders interpret these latest actions. At the same time, mortgage interest rates change each day, and if they’re low enough now to fit your budget and accomplish your goals, they could be worth locking in before any adverse economic data in the weeks and months to come potentially causes them to rise again.
So, what are today’s mortgage interest rates as of December 11, 2025, after this week’s new Fed rate cut? Below, we’ll detail everything to know to make an informed decision.
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What are today’s mortgage interest rates?
The average mortgage interest rate on a 30-year term is now 6.00%, as of December 11, 2025, according to Zillow. That’s a slight drop from the 6.12% it was earlier this week. The average mortgage rate on a 15-year term, however, stayed put at 5.50% overnight.
While these are much more competitive than what was available at the beginning of the year, buyers should remember that these are just averages. Lenders take different approaches to Fed rate cuts, with some pricing in these reductions before they’re officially announced, while others will wait until after the meeting to make adjustments. So it’s worth shopping around online to see what lenders are now offering. You may qualify for a mortgage rate even lower than these averages if you make a move now.
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What are today’s mortgage refinance rates?
The average mortgage refinance rate on a 30-year term jumped overnight to 6.74% from 6.61%, as of December 11, 2025, according to Zillow. The 15-year refi term also ticked up, from 5.66% to 5.74%.
Still, if you bought a home in 2023 or 2024 with a mortgage rate comfortably over 7%, you stand to see substantial interest savings with either of these options. Consider crunching the numbers, then, to see if it’s worth pursuing (but don’t forget about closing costs, which will need to be accounted for to more accurately determine the value of a refinance).
The bottom line
The average mortgage interest rate on a 30-year mortgage declined to 6.00% on December 11, 2025, while it remained at 5.50% for a 15-year alternative. The average refi rate on a 30-year term increased to 6.74% and it was up to 5.74% for a 15-year option. But with the latest Fed rate cut not fully accounted for in the broader rate climate, rates here can and likely will change before the end of the year. So, if you can afford to act now and don’t want to wait any longer to refinance or buy a home, these rates may already be low enough to support taking your next steps.