Today’s best mortgage and refinance rates, November 25, 2021: Rates remain low

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Mortgage interest rates moved in different directions this week, according to data compiled by Bankrate. Read on for a detailed breakdown of how different loan types moved.

Current average mortgage rates
Loan term Today’s Rate Last week Change
30-year mortgage rate 3.18% 3.20% -0.02
15-year mortgage rate 2.52% 2.51% +0.01
5/1 ARM mortgage rate 2.74% 2.74% N/C
30-year jumbo mortgage rate 3.17% 3.20% -0.03

Rates accurate as of November 25, 2021.

The rates listed above are averages based on the assumptions shown here. Actual rates available on-site may vary. This story has been reviewed by in-house editor Bill McGuire. All rate data accurate as of Thursday, November 25th, 2021 at 7:30am.

>>See historical mortgage rate trends

You can save thousands of dollars over the life of your mortgage by getting multiple offers. “It is so important to shop around,” says Greg McBride, CFA, Bankrate chief financial analyst. “Not everyone offers the same price, and some lenders may have motivation to be very competitive on price.”

Mortgage interest rates

30-year fixed-rate mortgage moves lower, -0.02%

The average 30-year fixed-mortgage rate is 3.18 percent, a decrease of 2 basis points since the same time last week. This time a month ago, the average rate on a 30-year fixed mortgage was lower, at 3.14 percent.

At the current average rate, you’ll pay a combined $428.10 per month in principal and interest for every $100k you borrow.

Use our mortgage calculator to calculate your monthly payments and see how much you’ll save by adding extra payments. Our tool will also help you calculate how much interest you’ll fork up over the life of your loan.

15-year fixed mortgage advances,+0.01%

The average rate for the benchmark 15-year fixed mortgage is 2.52 percent, up 1 basis point since the same time last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost roughly $390 per $100,000 borrowed. The bigger payment may be a little more difficult to find room for in your monthly budget than a 30-year mortgage payment would, but it comes with some big advantages: You’ll come out several thousand dollars ahead over the life of the loan in total interest paid and build equity much more quickly.

5/1 ARM rate goes unchanged

The average rate on a 5/1 adjustable rate mortgageis 2.74 percent, unchanged from a week ago.

Adjustable-rate mortgages, or ARMs, are mortgage loans that come with a floating interest rate. In other words, the interest rate can change periodically throughout the life of the loan, unlike fixed-rate loans. These types of loans are best for those who expect to refinance or sell before the first or second adjustment. Rates could be much higher when the loan first adjusts, and thereafter.

Monthly payments on a 5/1 ARM at 2.74 percent would cost about $402 for each $100,000 borrowed over the initial five years, but could increase by hundreds of dollars afterward, depending on the loan’s terms.

Jumbo loan interest rate retreats, -0.03%

The average jumbo mortgage rate today is 3.17 percent, down 3 basis points over the last week. A month ago, the average rate was lower, at 3.13 percent.

At the current average rate, you’ll pay principal and interest of $428.10 for every $100,000 you borrow.

Recap: How interest rates have shifted

  • 30-year fixed mortgage rate: 3.18%, down from 3.20% last week, -0.02
  • 15-year fixed mortgage rate: 2.52%, up from 2.51% last week, +0.01
  • 5/1 ARM mortgage rate: 2.74%, the same as last week
  • Jumbo mortgage rate: 3.17%, down from 3.20% last week, -0.03

Interested in refinancing? See rates for home refinance

30-year mortgage refinance falls, –0.02%

The average 30-year fixed-refinance rate is 3.15 percent, down 2 basis points from a week ago. A month ago, the average rate on a 30-year fixed refinance was lower, at 3.13 percent.

At the current average rate, you’ll pay $428.10 per month in principal and interest for every $100,000 you borrow.

Use Bankrate’s mortgage rate calculator to approximate your monthly payments and see how much you’ll save by adding extra payments. This calculator will also help you calculate how much interest you’ll pay over the life of the loan.

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