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Current refi mortgage rates report for Nov. 6, 2025 | Fortune

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  Published in House and Home on Thursday, November 6th 2025 at 3:43 GMT by Fortune
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Current Fixed‑Rate Mortgage Rates

Fortune lists the prevailing rates for two of the most widely sought fixed‑rate products. As of the article’s publication, the 30‑year fixed‑rate mortgage was quoted at 6.20 %, while the 15‑year fixed‑rate product was at 5.10 %. The article notes that these figures are “slightly higher than the year‑earlier average of 5.70 % for the 30‑year and 4.55 % for the 15‑year, reflecting the ongoing tightening cycle that began in 2022.” The piece also explains that the 15‑year loan, though more expensive on a monthly‑payment basis, offers a lower overall interest cost compared to the 30‑year loan because the term is shorter.

Adjustable‑Rate Mortgages (ARMs)

Fortune’s coverage of ARMs includes the most common 5/1 and 7/1 products. The 5/1 ARM currently carries an initial rate of 5.50 % with a 5‑year fixed period, after which the rate can adjust annually based on the prevailing index plus a margin. The 7/1 ARM is quoted at 5.20 %. The article cites the index used by most ARMs – the 1‑year Treasury yield – which stood at 4.25 % at the time, implying that the margin of 1.25 % (for the 5/1 ARM) or 1.15 % (for the 7/1 ARM) sets the initial rate.

Economic Context and Federal Reserve Influence

Fortune contextualizes these rates by referencing the Federal Reserve’s recent policy moves. The report cites the Fed’s 5‑percentage‑point hike over the past 18 months, concluding with a policy rate at 5.50 %. The article explains that the Fed’s actions have led to a gradual rise in mortgage rates as mortgage‑backed securities and related Treasury securities move in tandem with broader interest‑rate trends. It further notes that the Fed’s current “balance‑sheet normalization” strategy – the gradual sale of its Treasury and mortgage‑backed asset holdings – continues to exert upward pressure on rates, albeit at a slower pace than during the earlier peak of the rate‑raising cycle.

Links to Supplemental Data

The article links to several external sources for readers who wish to dig deeper:

1. Federal Housing Finance Agency (FHFA) Rate Data – A link to the FHFA’s monthly mortgage rate database provides detailed historical data. The FHFA page shows that the 30‑year fixed‑rate average rose from 5.45 % in October 2024 to 6.20 % in November 2025, while the 15‑year rate moved from 4.60 % to 5.10 %. The database also includes data on the average payment amount and the number of mortgages refinanced each month.

2. Bankrate Mortgage Calculator – Fortune links to Bankrate’s mortgage calculator, which offers a user‑friendly tool to estimate monthly payments for fixed and adjustable rates. The calculator allows borrowers to input principal, interest rate, loan term, and even additional payments. The tool demonstrates how a 30‑year fixed mortgage at 6.20 % yields a monthly payment of $1,899 on a $300,000 loan, versus $1,597 on a 15‑year fixed at 5.10 %.

3. Fannie Mae and Freddie Mac Market Reports – The article includes a link to Fannie Mae’s “Monthly Mortgage Rate Summary” and Freddie Mac’s “Mortgage Rates Summary.” These reports provide additional data points such as the average rate for newly originated loans, the average rate for refinances, and the rate spread between the two loan types. The Fannie Mae summary shows an average rate for new 30‑year fixed loans at 6.25 %, while Freddie Mac reports 6.18 %. The spreads between the two institutions remain relatively tight, indicating competitive pricing in the market.

4. Consumer Financial Protection Bureau (CFPB) Refinancing Guide – Fortune’s article also links to the CFPB’s guide on mortgage refinancing. The guide explains eligibility criteria, the typical refinancing process, and potential pitfalls such as closing costs and private mortgage insurance (PMI) removal. It also includes a step‑by‑step infographic that illustrates the refinance cycle from pre‑approval to closing.

Practical Advice for Borrowers

Fortune’s report distills the implications of the current rate environment into practical take‑aways. Borrowers with existing 30‑year loans at rates above 6.00 % are encouraged to consider refinancing, as the potential savings on interest and monthly payments could offset closing costs. Those with 15‑year loans might evaluate the trade‑off between lower total interest and higher monthly payments. The article advises using the Bankrate calculator to compare scenarios and highlights the importance of understanding pre‑payment penalties and PMI requirements.

The piece also warns that the “rate‑reset risk” for ARMs may increase as the Fed’s policy rate remains high. Borrowers with adjustable‑rate mortgages should monitor index movements and consider locking in a fixed rate if they anticipate higher rates in the next few years.

Conclusion

Fortune’s November 6, 2025 article provides a concise yet comprehensive overview of the current mortgage refinance landscape. By listing the prevailing rates for the most common loan products, explaining the economic drivers behind rate movements, and linking to authoritative supplemental resources, the article equips borrowers with the information they need to make informed refinancing decisions. Whether a homeowner seeks to lower monthly payments, shorten loan terms, or capitalize on a favorable rate environment, the report offers a clear snapshot of the market and actionable guidance to navigate it.