30-year mortgage rates rise - When will rates change? | Today's mortgage and refinance rates, November 7, 2025

Mortgage Rate Update: November 7, 2025

The current average rate for a 30-year fixed mortgage stands at 6.26%. Meanwhile, the average rate for the 15-year fixed mortgage is 5.55%, and the 5/1 Adjustable Rate Mortgage (ARM) averages at 5.60%.

Recent Trends in Mortgage Rates

Mortgage rates have edged higher recently, with 30-year fixed rates, 5/1 ARMs, and jumbo loan rates all increasing, according to Bankrate data. However, on October 29, the Federal Reserve Board lowered its benchmark rate by 0.25%, a move that markets had anticipated, which helped push mortgage rates down prior to the announcement.

"Lower mortgage rates are a good thing for potential homeowners, and the Fed is continuing its slow and steady approach to reducing the cost of mortgage lending while keeping an eye on inflationary pressures," said Selma Hepp, chief economist for Cotality.

"In fact, our data shows that pending home sales are rising year over year. This is a trend that will continue, especially when it is widely expected that the Fed will reduce rates one more time this year."

Impact on Homebuyers and Refinancing Activity

"This recent decline in rates spurred the second consecutive week of increased refinance activity, driven mainly by conventional refinance applications,” said Joel Kan, vice president and deputy chief economist at the Mortgage Banker's Association.

Kan noted that borrowers with larger loan balances have been the most responsive to recent changes in rates.

Author’s summary

Recent mortgage rate fluctuations reflect cautious Fed moves and rising home sales, prompting more refinancing especially among borrowers with higher loan amounts.

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Bankrate Bankrate — 2025-11-07

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