Average 30-year mortgage rate falls to 7.18%, Freddie Mac says, a third straight weekly decline

The average rate on a 30-year fixed-rate mortgage was 7.18% as of Thursday, Nov. 5, 2026, down from 7.24% a week earlier, Freddie Mac said in its weekly Primary Mortgage Market Survey release. A year earlier, the 30-year average was 6.22%.¹²

The average 15-year fixed rate was 6.57%, down from 6.60% the week before. A year earlier it averaged 5.50%.¹²

By simple subtraction of those published figures, the 30-year average fell 0.06 percentage point on the week and stands 0.96 point above its year-earlier level. The 15-year average fell 0.03 point on the week and stands 1.07 points above its level a year earlier.¹

Freddie Mac’s release calls this the third consecutive weekly decline. Sam Khater, its chief economist, said in the release that rates “continued their downward trajectory this week, improving the environment for prospective homebuyers against a backdrop of strong economic growth.”¹

How this week fits the recent run

Freddie Mac’s weekly history file shows the 30-year average has fallen in each of the three weeks since Oct. 15, when it stood at 7.40%.³

• Oct. 15: 7.40% (30-year), 6.71% (15-year)
• Oct. 22: 7.32%, 6.68%
• Oct. 29: 7.24%, 6.60%
• Nov. 5: 7.18%, 6.57%³

That leaves the 30-year average 0.22 percentage point below the 7.40% of Oct. 15, by simple subtraction.³

The Associated Press reported that the 10-year Treasury yield was 4.84% at midday Thursday, its lowest point since early September. The AP reported that the yield had climbed past 5.30% in early October and stood at 3.97% before the war with Iran began.⁴

The AP also reported that the 30-year mortgage average reached 7.4% in early October, its highest in nearly three years, after briefly falling to 5.98% in late February, its lowest since late 2022. The AP reported that home sales have stalled this year, and that sales of previously occupied homes last year were essentially flat, at a 30-year low.⁴

What the survey measures

Freddie Mac says the survey covers conventional, conforming, fully amortizing loans to buy a home, made to borrowers who put 20% down and have excellent credit.¹ The release was published at noon Eastern on Thursday.¹

What the records do not show

• The survey reports averages for one borrower profile. It does not show the rate any individual borrower would be offered, or rates for borrowers with lower credit scores or smaller down payments.¹
• Freddie Mac’s release does not give a specific cause for this week’s decline. Khater mentions economic growth as a backdrop but does not tie the drop in rates to it.¹
• The Treasury yield figures, the February low and the home sales statements are the AP’s reporting, not Freddie Mac’s.⁴
• This week’s figures were read from Freddie Mac’s release on GlobeNewswire and on its investor site, and from its weekly history file, which matched.¹²³