[REVISION HISTORY]

US mortgage rates and housing market trends

60 recorded revisions of this situation.

What changed

2026-11-05 18:05 UTC → 2026-11-10 14:41 UTC · added ~~removed~~

By early November 2026, U.S. mortgage rates exhibited continued volatility. After climbing to nearly three-year highs in mid-October, rates saw a period of decline. In late October, the benchmark 30-year fixed-rate mortgage fell for a second consecutive week, reaching 7.24% for the week ending October 29, according to Freddie Mac. This decline followed a period of rising rates driven by inflation, bond market volatility, and the impact of the U.S. war with Iran on oil prices and Treasury yields. By early November, trends appeared mixed. While the 30-year average reached 7.38% in one weekly update, Freddie Mac later reported a third consecutive weekly decline, with the average falling to 7.18% from 7.24%. Additionally, 30-year jumbo loans saw a slight decrease to 7.62%, and FHA loans dropped to 7.16%. Market activity has been significantly impacted by these fluctuations. According to the Mortgage Bankers Association, total mortgage application volume fell 14.1% month-over-month in October on a seasonally adjusted basis, representing a 39.8% decline compared to the previous year. ~~This downturn followed a 35-basis-point jump in the average 30-year fixed rate during October.~~ As fixed rates rose, more borrowers turned to adjustable-rate mortgages (ARMs), which accounted for 10.8% of total applications in October, though ARM applications remained 31.1% lower than a year ago. ~~Analysts~~ To combat high costs, experts suggest ~~further interest rate increases may arrive in December, with 77% of interest rate traders predicting a 25-basis-point increase according~~ strategies such as buying points to ~~the CME Group’s FedWatch tool. Hector Amendola, president of SimplyPMG, noted that a December hike is likely already reflected in current~~ secure lower rates. ~~Rates continue~~ Furthermore, as housing inventory reaches its highest levels since late 2019, buyers are increasingly utilizing seller concessions to ~~be influenced by inflation, Federal Reserve policy, and bond market volatility.~~ fund temporary rate buydowns.

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