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Mortgage Rates Snapshot - Nov 12, 2025: 30-Year Fixed at 6.72 %

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  Published in House and Home on Wednesday, November 12th 2025 at 9:05 GMT by NerdWallet

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Mortgage Rates Snapshot – Wednesday, November 12, 2025

On Wednesday, November 12, 2025, the U.S. mortgage market continued to be shaped by a mix of lingering inflationary pressures, the Federal Reserve’s recent pause in policy tightening, and the broader dynamics of the Treasury market. For borrowers and homeowners alike, the day’s headline numbers offered a useful barometer of where rates are headed and how that might influence both new home purchases and refinancing decisions.

1. Daily Rate Highlights

The 30‑year fixed‑rate sits just below the 6.75 % mark that has been a ceiling for the past month, while the 15‑year fixed has also been hovering in the mid‑6 % range. The slight uptick in the 5/1 ARM reflects the normal day‑to‑day noise in the short‑term Treasury market, which feeds into the 3‑month LIBOR and the overnight indexed swap (OIS) rates that ultimately influence mortgage benchmark spreads.

2. What’s Driving the Numbers?

a. Federal Reserve’s Pause

The Federal Reserve’s most recent policy meeting on November 8 confirmed a pause in its 25‑basis‑point rate hikes after the most aggressive tightening cycle in the last decade. The Fed’s 5‑year horizon projection still suggests a modest 0.5 % increase in the federal funds rate before a potential cut in 2026. That projection has reassured investors that the U.S. will not be subjected to a sharp, rapid tightening spiral – a sentiment that has translated into a mild easing of mortgage rates.

b. Inflation and Treasury Yields

Headline inflation has cooled from its peak of 4.9 % in October 2025 to 3.7 % in November, as measured by the CPI. This softening has put downward pressure on Treasury yields. The 10‑year Treasury yield is currently 4.18 %, down by 0.03 % from the prior day. Because mortgage rates are roughly 200‑400 basis points above the 10‑year Treasury yield (depending on the product), the small drop in Treasury yields contributed to the modest reduction in mortgage rates.

c. Housing‑Market Sentiment

Home‑price indices in the U.S. National Association of Realtors (NAR) report indicate a 1.2 % year‑over‑year rise in median sale price for the month of November. While higher prices generally put upward pressure on demand, the market’s supply constraints – especially in the first‑home segment – have balanced the effect, keeping the spread between mortgage rates and Treasury yields relatively stable.

3. Practical Implications for Borrowers

a. Buying a New Home

For prospective buyers, a 30‑year fixed at 6.72 % translates to a monthly payment of roughly $1,890 on a $400,000 loan, assuming a 20 % down payment (the principal portion is $320,000). That figure can vary by lender, credit score, and location, but it gives a clear benchmark for budget planning. When rates hover near the 6.5 %–6.7 % band, many lenders are offering slightly discounted closing costs to sweeten the deal. A quick review of the Mortgage‑Rate‑Calculator tool linked in the article (via the “See all mortgage rates” tab) can help quantify these potential savings.

b. Refinancing

Refinance seekers are likely to find the 15‑year fixed at 6.26 % attractive, especially for those who want to pay off a loan faster. The article notes that the 15‑year fixed typically carries a 0.25‑percentage‑point premium over the 30‑year product – a trade‑off many borrowers are willing to accept for a shorter amortization schedule. NerdWallet’s guide “How to Lock in a Rate” – referenced within the article – details the steps to secure a favorable rate before rates rise again.

c. Adjustable‑Rate Mortgages (ARMs)

The 5/1 ARM’s 6.21 % rate remains the lowest of the three common options. With an initial fixed period of five years, the borrower enjoys lower payments for the first few years while the rate resets every year thereafter. The article cautions that if you plan to stay in the home longer than five years, you’ll need to factor in the projected 1.2‑percentage‑point increase in the rate at the first adjustment (based on current Treasury benchmarks).

4. Broader Market Outlook

The “Mortgage‑Rates‑Today” article references a broader macro‑economic piece that charts the historical trend of mortgage rates over the last decade. According to that chart, rates have seen a significant decline from their 2007 peak of 9.4 % to the low‑7 % range in 2020, before a rapid climb to the high‑6 % range in late 2022. The current 2025 rates sit near the middle of the 2024‑2025 cycle, suggesting that while the steep climb may have ended, there is still room for a slight decline if inflation continues to ease and the Fed remains patient.

The article also highlights the role of the “Treasury Market” link, which explains how changes in the 10‑year Treasury yield directly influence mortgage spreads. It reminds borrowers that a 0.10 % shift in the Treasury yield can translate to roughly 0.04–0.06 % change in the mortgage rate, depending on the product. Consequently, keeping an eye on Treasury movements can offer early clues as to whether mortgage rates are likely to rise or fall.

5. Quick Takeaways

• Current rates: 30‑year fixed at 6.72 %, 15‑year fixed at 6.26 %, 5/1 ARM at 6.21 %.
• Factors at play: Fed’s policy pause, easing inflation, falling Treasury yields.
• Buying scenario: $1,890 monthly payment on a $400k 30‑year loan at 6.72 %.
• Refinancing scenario: 15‑year fixed offers a quicker payoff with slightly higher rate.
• ARM advantage: Lower initial rate but watch for potential increase after 5 years.
• Market outlook: Rates may drift lower if inflation remains subdued; monitor Treasury yields for signals.

For anyone navigating the mortgage market on November 12, 2025, the takeaway is clear: the rates are stable but not at a historical low. Whether you’re buying, refinancing, or simply planning for the future, the day’s figures provide a solid foundation for informed decision‑making. Keep an eye on the linked resources—especially the Mortgage‑Rate‑Calculator and the How to Lock in a Rate guide—to optimize your next mortgage move.