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

30-Year Mortgage Rates Rise: When Will Rates Change?

The current average rate for a 30-year fixed mortgage is 6.26%. For the benchmark 15-year fixed mortgage, the average rate is 5.55%, while the average rate on a 5/1 ARM is 5.60%.

According to Bankrate data, average mortgage rates have edged higher, with increases seen in 30-year fixed, 5/1 ARMs, and jumbo loan rates.

Federal Reserve Rate Cut and Market Reaction

On October 29, the Federal Reserve Board lowered their benchmark interest rate by a quarter of a percentage point. The market had anticipated this decision, which initially pushed mortgage rates lower ahead of 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.”

Refinance Activity Increases

Not only are buyers benefiting from lower rates, but more homeowners are also refinancing their mortgages.

"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 Bankers Association.

Kan added that borrowers with larger loan balances are particularly taking advantage of these recent rate movements.

Summary

Mortgage rates recently rose after a Federal Reserve rate cut, with buyers and refinancing homeowners responding positively to lower borrowing costs and a stable approach to inflation control.

Bankrate — 2025-11-07