30-year mortgage rate eases to 7.18%, third weekly decline
Freddie Mac's weekly survey put the average 30-year fixed rate at 7.18% on November 5, down from 7.24% a week earlier but up from 6.22% a year ago.
The average 30-year fixed mortgage rate fell to 7.18% in Freddie Mac's Primary Mortgage Market Survey for the week of November 5, 2026, down from 7.24% the week before. It was the third weekly decline in a row.
The 15-year fixed rate averaged 6.57%, down from 6.60% the prior week. A year earlier the two rates were 6.22% and 5.50%, so borrowing is still about a percentage point more expensive than in late 2025.
Freddie Mac's survey reports national averages for conventional, conforming loans. Individual quotes depend on credit, down payment and loan type.
"Mortgage rates continued their downward trajectory this week"
Why it matters to investors
A few tenths of a point changes the payment on every financed deal. On a $280,000 loan over 30 years, the drop from 7.24% to 7.18% lowers principal and interest by roughly $11 a month. Re-run your numbers in the mortgage payment calculator and the cash flow calculator with this week's rate.
Source: Freddie Mac Primary Mortgage Market Survey
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