The average mortgage interest rate on a 30-year term is now 6.00%, as of December 11, 2025, according to Zillow. That's a slight drop from the 6.12% it was earlier this week. The average mortgage rate on a 15-year term, however, stayed put at 5.50% overnight.

The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday, opting for its third interest rate cut this year in an effort to revive a sluggish labor market. The reduction of interest rates could deliver some relief for mortgage and credit card borrowers.

The Fed lowered its benchmark interest rate by a quarter percentage point, in an effort to shore up a weakening job market. With inflation remaining stubbornly high, it was not a slam dunk decision.

The FOMC elects to cut interest rates in December to 3.5% -3.75%, but Powell siignals that policy may now by neutral, making a January cut less probable.

The Federal Reserve cut interest rates Wednesday in an unusually narrow vote, underscoring the divides among bank officials over the effect rate cuts will have on inflation and employment. The Federal Open Market Committee (FOMC),

The cut of a quarter-point will likely make it cheaper for average Americans to secure mortgages, pay credit card debt or finance cars.

The highest money market account rate available today is 4.22% Changes from the Fed or your bank can quickly change money market rates Online banks typically offer the most competitive yields on the market As of today,

The Trump administration signed a contract to create a fleet of jets for deportations. In other immigration news: Trump launched his gold card program, offering $1 million fast-track visas. And he finally confirmed using a vulgar slur about several nations in 2018.