Mortgage Rates Decline for Third Consecutive Week to 7.18%
Freddie Mac (FMCC) reported that the average 30-year fixed-rate mortgage declined for a third consecutive week to 7.18%.
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Rhea-AI Summary
Freddie Mac (FMCC) reported that the average 30-year fixed-rate mortgage declined for a third consecutive week to 7.18%.
As of November 5, 2026, the 30-year average was down from 7.24% the previous week but above 6.22% a year earlier. The 15-year fixed-rate mortgage averaged 6.57%, compared with 6.60% the previous week and 5.50% a year earlier.
Freddie Mac's chief economist said the decline improved the environment for prospective homebuyers against a backdrop of economic growth.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MCLEAN, Va., Nov. 05, 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 continued their downward trajectory this week, improving the environment for prospective homebuyers against a backdrop of strong economic growth,” said Sam Khater, Freddie Mac's Chief Economist.
News Facts
- The 30-year FRM averaged
7.18% as of November 5, 2026, down from last week when it averaged7.24% . A year ago at this time, the 30-year FRM averaged6.22% . - The 15-year FRM averaged
6.57% , down from last week when it averaged6.60% . A year ago at this time, the 15-year FRM averaged5.50% .
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/e670e064-b00e-4b9c-a8b6-0b6fcd4ea996
FAQ
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What were Freddie Mac's mortgage rate averages on November 5, 2026?
The 30-year fixed-rate mortgage averaged 7.18%, while the 15-year averaged 6.57%. Both averages declined from the previous week but remained above their year-earlier levels.
What loans does Freddie Mac's Primary Mortgage Market Survey cover?
The survey focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with excellent credit who put 20% down.