Alright, let's get one thing straight right off the bat: these "current mortgage rates" reports are starting to feel like Groundhog Day. Every week, it's the same song and dance. A basis point up, a basis point down. Whoop-de-freakin'-doo.
Seriously, are we supposed to get excited about a 0.01% change? It's like rearranging deck chairs on the Titanic. The water's still rising, folks.
They keep throwing around this "historical context," saying 7% isn't that bad. Give me a break. Yeah, I get it, Grandpa paid 18% in the '80s. But Grandpa also bought a house for the price of a used car today. Comparing then and now is about as useful as a screen door on a submarine.
And these "experts" who swore rates would soften when the Fed started cutting rates last year? Where are they now? Hiding under a rock, probably. It's always "wait and see," never "we screwed up." You know, I'm starting to think these so-called experts are just guessing like the rest of us.
I mean, seriously, what is going on here? The Fed cuts rates, but mortgage rates barely budge. It's like they're playing a game of chicken, seeing how much pain the average Joe can take before finally cracking.
And let's not forget the elephant in the room: President Trump's policies. Tariffs, deportations... the whole shebang. They're worried about the labor market constricting and inflation resurfacing. And offcourse, who's gonna want to buy a house when the economy is this unstable?
I read one article that said some buyers are negotiating rate buydowns with builders. Okay, great, if you're buying new construction. What about the rest of us trying to snag a decent existing home without getting completely reamed? Are we just SOL?
The article suggests improving your credit score and lowering your debt-to-income ratio. Yeah, no kidding. It's not like anyone wants a bad credit score. But what if you're already doing everything right and still getting shafted? What then?
I'm looking at these numbers from Zillow: 6.11% for a 30-year fixed. 5.62% for a 15-year. And then the refinance rates are even higher for some terms! I'm no financial whiz, but that doesn't sound like "relief" to me. It sounds like a trap.
They're pushing ARMs (adjustable-rate mortgages) as an alternative, especially if you're planning to flip a property or rent it out. Sounds like a great way to gamble with your future, if you ask me. But hey, maybe I'm just risk-averse. For more information on current ARM rates, see Current ARM mortgage rates report for Nov. 21, 2025.
This whole "golden handcuffs" thing is real, by the way. People are stuck in their homes because they can't afford to move. They're prisoners of their own low interest rates. It's a twisted irony, isn't it? The very thing that was supposed to help them is now holding them back.
And what about the dream of homeownership? Is that just a pipe dream now? Are we all destined to be renters forever, lining the pockets of some corporate landlord? Maybe that's the plan all along.
Then again, maybe I'm being too cynical. Maybe things will get better. Maybe the Fed will actually do something meaningful. Maybe Trump will... nah, who am I kidding?
