Fixed mortgage rates remained largely unchanged from late October, with 30-year averages hovering near 6.85% and 15-year rates at 6.15%. The stability reflects muted investor sentiment and a lack of new economic catalysts.
- 30-year fixed mortgage rate at 6.85% on December 15, 2025
- 15-year fixed rate at 6.15% with no significant change since October
- Refinance rates stable, reflecting low borrower incentive to restructure
- 10-year Treasury yield near 4.35%, supporting rate stability
- JPM and C report flat loan volumes amid cautious lending posture
- HYG corporate bond spreads tighten slightly, indicating improved credit sentiment
Mortgage interest rates for fixed-rate loans showed minimal fluctuation as of December 15, 2025, holding near levels last seen at the end of October. The 30-year fixed mortgage rate averaged 6.85%, while the 15-year fixed rate stood at 6.15%, according to national data. Refinance rates mirrored these figures, indicating that borrowers seeking to restructure existing debt have not experienced any meaningful improvement or deterioration in pricing. The stagnation in rates comes amid a quiet macroeconomic backdrop, with recent inflation data and Federal Reserve policy signals remaining consistent. Market participants continue to assess the trajectory of monetary policy, though no new guidance has emerged to alter expectations. This stability has contributed to a cautious approach among homebuyers and refinancers, with transaction volumes remaining near seasonal averages. In financial markets, the yield on the 10-year U.S. Treasury remained stable around 4.35%, supporting the flat mortgage environment. Bond market indicators suggest that investor demand for high-quality fixed income remains steady, while riskier corporate debt, such as the HYG index, saw modest spreads tighten, reflecting improved credit sentiment. Major financial institutions, including JPMorgan Chase (JPM) and Citigroup (C), reported neutral loan origination volumes in November, consistent with the broader market calm. These banks continue to manage mortgage pipelines with conservative risk assessments, as they balance customer demand against margin pressures and capital allocation strategies.