Mortgage rates increased last week, according to Freddie Mac, and they’re holding steady this week. So, when will mortgage rates go down significantly, and will they do so in time for you to buy a home before the end of 2025?

Yes and no. Short-term mortgage rates aren’t moving much, but annual rates have dropped.

As of Nov. 13, Freddie Mac reported that the average 30-year fixed-rate mortgage rate had risen by two basis points to 6.24%. However,the 30-year rate is now 54 basis points lower than it was this time last year. In November 2024, mortgage rates averaged 6.78%.

This week’s 15-year fixed mortgage rate is down by just one basis point, now at 5.49%. But it is indeed 50 basis points lower than this time last year.

In situations like these, it pays to look at the numbers. here’s the Freddie Mac data on mortgage rates for the past 52 weeks as of Nov. 13, 2025:

Rates on 30-year and 15-year fixed-rate mortgages are both hovering above their annual lows.

So, yes, mortgage rates are dropping when you look at the larger picture.We’re still 24 basis points away from 30-year rates falling to 6%, and there’s no guarantee that mortgage rates will hit 6% in the near future. waiting for rates to hit that magical number before you buy probably isn’t worth it.

Now that the Federal Reserve has lowered the fed funds rate twice in 2025,will mortgage rates go down in response?

When the Fed – the common nickname for the Federal Open Market Committee (FOMC) – held its September 2025 meeting,it voted to lower the federal funds rate by 25 basis points. Then, it announced its second 25-bps cut of the year at its October meeting.

That federal funds rate tends to directly influence rates on shorter-term lending. While mortgage rates aren’t directly based on the fed funds rate, they typically mirror fed fund rate trends. So, if the fed funds rate goes down, mortgage rates will likely follow.The inverse is also true.

When people anticipate a fed funds rate cut, mortgage rates usually fall in the weeks leading up to the meeting. However, home loan rates don’t necessarily continue to decrease after a fed funds rate cut.

In 2024, mortgage rates plummeted throughout August and early September as people expected the Fed to lower its rate at the bank’s September meeting. But mortgage rates stopped decreasing significantly after this meeting – and after the two additional rate cuts later that year.

The same seems to have happened in 2025. Mortgage rates gradually declined i

Navigating Today’s Housing market: affordability and Curiosity

If you crave the comforts of homeownership,the best strategy in today’s market may be to buy what you can afford.Whether that means a smaller house or a condo rather of a single-family home, owning something puts you in a position to start building equity.

Yes, shopping for the best mortgage lenders with low rates and fees is crucial when getting a mortgage.But to help you find your ideal home that balances affordability and desirability, it pays to adopt a curious mindset and consider lesser-discussed financial tools.

There’s no better time to learn more about your local real estate market than today.By adopting a sense of curiosity, you could discover that your city has more to offer housing-wise than you previously thought.

you may want to take weekend excursions to lesser-known neighborhoods and suburban developments beyond the city limits. You never know what you’ll find that could expand your idea of what “home” looks like – including new developments, school districts, and types of homes.

If you’re looking to spend less on a home in today’s mortgage market, a house needing a bit of TLC could help you do just that. Loans like the FHA 203(k) mortgage can roll your purchase and renovation costs into one convenient loan. when you qualify and have an accepted offer, your lender promptly funds the home’s purchase price and puts the cost of renovations into an escrow account. As you make repairs, funds get dispersed.

How would it feel to have a longer commute yet come home to a house you love? Master-planned communities tend to crop up outside major