Mortgage Rates Dip As Economic Uncertainty Lingers

Los Angeles, California – Mortgage rates saw a slight decline this week, with the average 30-year fixed-rate mortgage (FRM) falling to 6.23% in the week ending November 28, 2025. The average 15-year FRM also decreased to 5.51%. This dip arrives amidst growing economic uncertainty, prompting real estate experts to urge consumers to stay informed about market behaviors.

The recent mortgage rate trends reflect a broader economic landscape shaped by factors such as inflation and the Federal Reserve’s actions. Economists predict a continued downward trend in FRM rates as the Fed works to stabilize job growth while managing inflation pressures, which could affect future consumer prices.

The average 15-year FRM is now one-eighth less expensive than the 30-year FRM, which is appealing to some borrowers despite the higher monthly payments. As analysts monitor mortgage rate movements, they advise consumers to weigh their options carefully.

According to Freddie Mac, these recent mortgage rates are still relatively high compared to historical lows but are significantly down from earlier this year, where the average 30-year FRM peaked over 7% in early 2025. Continuing uncertainties in the job market, compounded by pandemic disruptions and trade challenges, are contributing to cautious consumer behavior in the housing market.

Experts from Fannie Mae and the Mortgage Bankers Association forecast that average mortgage rates may drop to 6.40% by the end of 2025, with a potential dip to 5.90% in 2026. However, the timing of any cuts by the Federal Reserve remains dependent on economic indicators such as unemployment rates and inflation.

As buyers navigate these fluctuating rates, many are remaining on the sidelines, waiting for more favorable conditions to enter the housing market. Current buyers are encouraged to stay engaged, as improved market pricing conditions are expected in the coming years.

The relationship between mortgage rates and the 10-year Treasury note remains significant, with recent data showing that the 10-year T-Note rate has dropped to 4.03%. This dynamic is crucial for mortgage lenders who utilize these rates to set lending prices. As financial experts observe these interconnected markets, they advise potential investors to remain vigilant and informed.