Mortgage Rates Decline for Fourth Consecutive Week to 7.11%
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Rhea-AI Summary
Freddie Mac (FMCC) reported that the average 30-year fixed mortgage rate declined for a fourth consecutive week to 7.11%.
The rate fell from 7.18% last week but remained above 6.24% a year earlier. The 15-year fixed mortgage rate averaged 6.45%, down from 6.57% last week and above 5.49% a year earlier. Freddie Mac said mortgage rates reached their lowest level in seven weeks.
News Explained
The survey’s stated focus is conventional, conforming, fully amortizing home-purchase loans for borrowers with
AI-generated analysis. How Rhea-AI works. Not financial advice.
MCLEAN, Va., Nov. 12, 2026 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged
“Mortgage rates dropped to their lowest level in seven weeks, a welcome development that gives borrowers greater flexibility as they navigate the current housing market,” said Sam Khater, Freddie Mac's Chief Economist.
News Facts
- The 30-year FRM averaged
7.11% as of November 12, 2026, down from last week when it averaged7.18% . A year ago at this time, the 30-year FRM averaged6.24% . - The 15-year FRM averaged
6.45% , down from last week when it averaged6.57% . A year ago at this time, the 15-year FRM averaged5.49% .
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT:
Mollie Laniado
(571) 382-1784
Mollie_Laniado@FreddieMac.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/169f6d59-54c8-4cd9-ae63-fa9776b8f517
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What mortgage rates did Freddie Mac report for November 12, 2026?
Freddie Mac reported average fixed mortgage rates of 7.11% for 30-year loans and 6.45% for 15-year loans. Both were lower than the previous week but higher than a year earlier.
What loans does Freddie Mac's mortgage rate survey cover?
Freddie Mac's Primary Mortgage Market Survey covers conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.