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Current mortgage rates report for Nov. 6, 2025: Rates remain steady | Fortune

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  Published in House and Home on Thursday, November 6th 2025 at 4:00 GMT by Fortune
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Mortgage Rates on November 6 2025: A Snapshot of the U.S. Housing Market

On November 6, 2025, the U.S. mortgage landscape presented a mix of resilience and caution. According to Fortune’s latest update, the average 30‑year fixed‑rate mortgage hovered at 5.75 %, while the 15‑year fixed rate remained near 5.15 %. These figures marked a slight uptick from the preceding week’s rates, which had dipped to 5.68 % for the 30‑year mortgage after a brief cooling period. The 20‑year fixed‑rate settled around 5.35 %, and the average variable‑rate mortgage—most commonly the 5/1 ARM—was trading near 5.45 %.

Fortune’s article contextualized these numbers against the backdrop of a Federal Reserve that had recently paused its rate‑hiking cycle. The Fed’s latest policy meeting, referenced in the piece via a link to the Fed’s official announcement, confirmed that the federal funds rate remained at 5.50 %. The central bank cited a still‑present, albeit moderate, inflationary pressure in the economy, which it deemed “within a manageable range.” Economists quoted in the article argued that the Fed’s pause suggests confidence that the economy can sustain growth without further tightening, thereby providing a stabilizing backdrop for mortgage lenders and borrowers alike.

The article also drew on the latest Fannie Mae and Freddie Mac data to paint a comprehensive picture of mortgage rate trends. A link to Fannie Mae’s “Mortgage Rate Snapshot” table was followed, revealing that the average 30‑year fixed‑rate has been on a low‑to‑mid‑5 % plateau for the last six months, after a notable spike to 6.15 % in early June. The article’s authors highlighted that the rate decline has been driven primarily by a combination of falling inflation expectations and the Fed’s decision to hold rates steady, which in turn has softened the borrowing cost for both new home purchases and refinancing.

Consumer sentiment, as captured by a linked consumer‑confidence survey from the Federal Reserve Bank of St. Louis, remains cautiously optimistic. The survey indicated that 48 % of respondents believe that mortgage rates will stay near their current level for the next twelve months. Meanwhile, 37 % expect a moderate increase in rates, and 15 % anticipate a decline. The article pointed out that the high percentage of respondents who view rates as “stable” reflects the overall market sentiment that the current interest‑rate environment is likely to persist for the near term.

In addition to fixed‑rate trends, Fortune’s piece explored the evolving landscape of adjustable‑rate mortgages (ARMs). A link to a data set from the Mortgage Bankers Association revealed that the average 5/1 ARM rate—often used by borrowers who plan to move or refinance within five years—settled at 5.45 %. The article noted that ARMs have become more attractive to cost‑sensitive buyers, especially given the comparatively lower initial rates and the potential for future rate reductions should inflation cool further.

The housing‑market side of the story was also highlighted. Fortune included a link to a recent Housing Pulse report that outlined the current supply and demand dynamics. According to that report, the U.S. has a modest inventory of roughly 1.2 million homes for sale, a figure that has remained relatively stable over the past quarter. Prices, meanwhile, have seen a moderate rise of 1.6 % over the past month, reflecting continued demand in suburban and ex‑urban markets. The article emphasized that this supply‑tight environment has kept sellers in a favorable position, allowing them to maintain higher price points even as mortgage rates remain somewhat above the 5 % mark.

Fortune also examined the refinancing landscape. A link to the Mortgage Consumers’ Confidence Index highlighted that 22 % of homeowners who currently carry a mortgage are actively considering refinancing. The article explained that while the high rates may deter some, the potential for lower interest costs—especially if the borrower can secure a 5‑year fixed rate near the current 5.15 %—continues to drive refinancing activity. Furthermore, the article noted that the average cost of refinancing per homeowner has declined, due in part to lender incentives such as “no‑closing‑cost” refinancing packages.

Looking forward, the article offered several scenarios based on possible Fed policy shifts. One scenario, informed by a linked Bloomberg analysis of Fed minutes, projected that a “rate hike of 25 basis points” could push the 30‑year fixed‑rate to 6.10 % in the next quarter. Conversely, a “rate cut of 25 basis points” might bring the 30‑year fixed‑rate down to 5.45 %, benefiting first‑time homebuyers and those looking to refinance. The authors stressed that, despite these potential swings, the current environment is still more favorable for borrowers than the late‑2018 and early‑2019 periods, when rates had spiked above 6.5 %.

In conclusion, Fortune’s November 6 update painted a picture of a mortgage market that, while operating at higher rates than the lows of the past year, remains relatively stable and conducive to both buying and refinancing. The combination of a Fed pause, moderate inflation, and steady housing supply has kept rates within a narrow band that offers a degree of predictability for consumers and investors alike. As the market heads into the second half of the year, the key variables will remain the Fed’s policy decisions, the trajectory of inflation, and the evolving dynamics of housing supply and demand.