Mortgage rates dip to 7.18% in Freddie Mac's Nov. 5 survey

Where are mortgage rates right now?

The average 30-year fixed mortgage rate was 7.18% in Freddie Mac's Primary Mortgage Market Survey released November 5, 2026, down from 7.24% the week before. The 15-year fixed average was 6.57%, down from 6.60%.

That makes three weekly declines in a row. Freddie Mac's survey data, which the St. Louis Fed republishes in its FRED database, shows the 30-year average at 7.40% on October 15 and 7.32% on October 22 before this latest reading.

How does that compare with last year?

Rates are well above year-ago levels. Freddie Mac lists the 30-year average at 6.22% and the 15-year at 5.50% in the same week of 2025. On a $350,000 loan, the gap between those two 30-year rates works out to about $223 a month in principal and interest, using a standard amortization formula.

What does it mean for buyers and investors?

A small weekly drop does not change affordability much on its own, but a run of declines can move buyers who were waiting at the margin. For rental investors, the rate sets the hurdle a property's cash flow has to clear, so it is worth rerunning the numbers with the current figure rather than one from a few months ago.

Freddie Mac publishes the survey every Thursday. The figures are national averages for borrowers with strong credit and 20% down, so individual quotes will vary.