Mortgage Rates Ease in Freddie Mac's Nov. 5 Weekly Survey | Today, November 12, 2026

Today’s mortgage rates

Freddie Mac’s November 5, 2026, survey put the weekly 30-year mortgage average at 7.18%, down from 7.24%. CNBC puts the 10-year Treasury yield at 5.048%, up from 4.938% since our last report. The higher bond yield suggests upward pressure on borrowing costs despite that weekly mortgage decline.

These observations cover different periods and measure different things. The survey is a weekly mortgage average, while the Treasury figure is a bond yield; neither is a current offer from a lender. Use current quotes with matching loan terms to compare your options.

Although rates have elevated from recent lows, see if refinancing makes sense or tapping home equity is prudent. For home buyers, explore expert advice for 2026 and check if you qualify for financial assistance programs or more flexible loan options.

Current mortgage and refinance rates

>Related: 7 Tips to get the best refinance rate

30-year fixed rate mortgage

At the time this was published, the average 30-year fixed mortgage rate reached 7.202%.

The average 30-year fixed rate mortgage (FRM) hit a record weekly low of 2.65% on January 7, 2021, and a record weekly high of 18.63% on October 9, 1981, according to Freddie Mac (survey data since 1971).

A 30-year FRM gives borrowers an affordable option but you pay more interest over the life of the loan compared to shorter mortgages.

15-year fixed rate mortgage

Today, the average 15-year fixed mortgage rate went to 6.601%.

The average 15-year fixed rate mortgage (FRM) hit a record weekly low of 2.10% on July 29, 2021, and a record weekly high of 8.89% on December 16, 1994, according to Freddie Mac (survey data since 1991).

The 15-year FRM offers borrowers a briefer term with less accrued interest, but the monthly payments will be much higher.

5/1 adjustable-rate mortgage

This morning’s 5/1 adjustable rate mortgage averaged 6.723%.

Adjustable-rate mortgages (ARMs) typically have lower initial interest rates compared to fixed loans. Once that initial period ends, the interest rate adjusts to the current market conditions. In this case, the initial period is five years and the adjustments are up to once every year. Homeowners with shorter term lending plans tend to see these as advantageous.

Market data affecting today’s mortgage rates

Here’s a snapshot of the state of play as this article was published, with figures as of 8:32 a.m. Eastern on Thursday, November 12, 2026. Each figure compares to the level in our previous report, published November 10, 2026, so much of the movement will often have happened in the previous session.

• The yield on 10-year Treasury notes increased to 5.048% from 4.938% (Bad for mortgage rates). Mortgage rates often follow these Treasury bond yields.
• Major stock indexes rose in the last session: Dow gained 0.49%, S&P 500 gained 1.31%, Nasdaq gained 1.60%. (Bad for mortgage rates.) When investors sell shares and move into bonds, bond purchases can push prices up and yields down, potentially easing mortgage rates.
• Oil prices increased to $87.42 from $84.93 a barrel. (Bad for mortgage rates.*)
• Gold prices decreased to $3,931.10 from $4,081.20 an ounce. (Bad for mortgage rates.*)
• CNN Business Fear & Greed Index increased to 36.4 from 31.9 out of 100, in “fear” territory. (Bad for mortgage rates.) “Fear” suggests investors are seeking safety, supporting bond prices and easing yields; “greed” suggests the opposite.

*A movement of less than $20 on gold prices or 40 cents on oil prices is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.

Caveats about markets and rates

Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. That relationship is looser now.

So, use markets only as a rough guide. They have to be exceptionally strong or weak before they say much about the day’s lender pricing. We still make a daily call, and it is a judgment about the morning’s markets, not a forecast to bank on.

Our call for today: The 10-year Treasury yield is higher since our last report. Our read is that mortgage quotes could drift higher today.

Be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.

What’s driving mortgage rates today?

This week

The remaining inflation release deserves attention when assessing mortgage pricing. Econoday lists PPI-Final Demand for Friday at 8:30 AM ET. An upside inflation surprise could add upward pressure to borrowing costs; a softer result could ease that pressure. Tuesday’s CPI was on the calendar at 8:30 AM ET, but the schedule alone provides no basis for judging its result.

Thursday’s remaining releases offer a separate look at housing and energy. Existing Home Sales is scheduled for Thursday at 10:00 AM ET; unexpectedly strong demand could add upward pressure to mortgage pricing. The EIA Petroleum Status Report follows Thursday at 12:00 PM ET. An unexpected supply change could affect energy prices and, indirectly, inflation concerns relevant to mortgage pricing.

Federal Reserve appearances are also still ahead. Cleveland Fed President Beth Hammack is scheduled to speak Thursday at 9:00 AM ET, followed by Fed Governor Michael Barr at 10:00 AM ET. Their scheduled appearances are occasions to watch for policy commentary, without assuming what either official might say. For a borrowing decision, compare quotes obtained at the same time and ask lenders to explain the costs attached to each rate.

Recent trends

Freddie Mac’s November 5, 2026 Primary Mortgage Market Survey put the weekly 30-year fixed mortgage rate average at 7.18%, falling 6 basis points (0.06 percentage points) from 7.24% the previous week. The 15-year average was 6.57%. Freddie’s data serves as a market barometer and trend tracker, but individual rates vary by lender and depend on personal financial profiles.

Expert forecasts for mortgage rates

Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.

Here are their quarterly rate forecasts for the next year. The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie Mae updated its forecast on October 12 and MBA updated its forecast on October 11.

Of course, given so many unknowables, these forecasts might be even more speculative than usual, and both groups revise them often.

Mortgage rate methodology

The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.

Current mortgage rates methodology

We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.

🏠 Equal Housing Lender. The Mortgage Reports, NMLS #1019791. Verify our licensing at NMLS Consumer Access. We do business in accordance with the Equal Credit Opportunity Act and federal Fair Housing laws. This article is for editorial and informational purposes only and is not an offer or commitment to lend; rates and terms are illustrative and subject to change without notice.