Freddie Mac 30-Year Mortgage Rate Falls to 7.18% for a Third Straight Week

On Friday, Nov. 6, 2026, coverage of Freddie Mac’s weekly Primary Mortgage Market Survey centered on the average 30-year fixed mortgage rate falling to 7.18% for the week reported as of Thursday, Nov. 5, marking a third consecutive weekly decline and a slightly lower official survey print than the prior week’s 7.24%.

Freddie Mac’s third straight weekly decline

According to Freddie Mac’s PMMS news release, the 30-year fixed-rate mortgage averaged 7.18% as of Nov. 5, 2026, down from 7.24% the previous week. A year earlier, the same survey put the 30-year average at 6.22%. The 15-year fixed-rate mortgage averaged 6.57%, down from 6.60% the prior week and compared with 5.50% a year ago. The six-basis-point drop in the 30-year average and the three-basis-point decline in the 15-year average extend a short easing streak after earlier weeks that had already begun to pull the official weekly print lower.

Freddie Mac Chief Economist Sam Khater said in the release that mortgage rates “continued their downward trajectory this week, improving the environment for prospective homebuyers against a backdrop of strong economic growth.” The survey covers conventional, conforming, fully amortizing home-purchase loans for borrowers who put 20% down and have excellent credit, Freddie Mac said, so the figure is a market average rather than an individual lender quote or APR. Media contact information in the release listed Mollie Laniado for press inquiries, and the company said the PMMS remains focused on that conforming purchase segment.

The Mortgage Reports, in a Nov. 6 write-up of the same weekly print, said Freddie Mac’s Nov. 5 survey put the 30-year average at 7.18%, a six-basis-point decline from 7.24%, with the 15-year average at 6.57%. The outlet emphasized that Freddie’s weekly barometer tracks trends but that day-to-day lender pricing for an individual borrower can differ from the survey average, and that borrowers should compare matching loan terms and fees when evaluating offers.

How the weekly survey differs from daily quotes

Friday’s coverage centers on Freddie Mac’s official weekly average, not a same-day lender shopping table. The Mortgage Reports noted that its own partner-network conventional 30-year fixed average was about 7.215% when that Nov. 6 article was published, with a conventional 15-year fixed average near 6.6%, a conventional 20-year near 7.031%, and a conventional 10-year near 6.453%. Those daily composites illustrate how quote averages can sit near but not identical to the Freddie weekly print of 7.18% and 6.57%.

The same report said the 10-year Treasury yield was about 4.896% as of about 8:32 a.m. ET on Friday, Nov. 6, above the prior session’s close near 4.837% but below the 4.939% level in its previous report. Mortgage rates often move with longer-term Treasury yields, though the relationship is imperfect and lender pricing can diverge during volatile sessions. The Mortgage Reports also listed oil near $90.81 a barrel and gold near $4,074.50 in that morning snapshot, alongside a CNN Business Fear & Greed Index reading of 19.2 in “extreme fear” territory, as context for the bond-market setting that can influence mortgage pricing.

Freddie Mac’s three-week easing streak still leaves the 30-year average well above the year-ago 6.22% reading. That gap underscores how much higher financing costs remain relative to late 2025 even after the latest six-basis-point decline in the official survey.

Housing market context around the print

The Mortgage Reports cited Mortgage Bankers Association chief economist Mike Fratantoni saying the association’s current forecast has the 30-year fixed mortgage rate staying above 7% throughout 2027, while noting that any specific forecast figures are illustrative rather than an offer to lend. Separate quarterly outlooks summarized in that report put Fannie Mae’s 30-year fixed projection at 7.4% for the fourth quarter of 2026 and the MBA’s at 7.3% for the same period, with Fannie Mae’s path holding near 7.5% into 2027 and the MBA’s near 7.2%, and both groups revising forecasts periodically.

Friday’s economic calendar also included the Employment Situation release at 8:30 a.m. ET and consumer sentiment data later in the morning, The Mortgage Reports said, events that can influence bond yields and, indirectly, mortgage pricing even when the Freddie weekly survey has already been published. The Freddie print itself is a backward-looking weekly average through Nov. 5, so Friday’s market moves affect next week’s survey more than the newly released 7.18% figure. Fed Governor Michelle Bowman was also scheduled to speak Friday at 12:15 p.m. ET, according to that calendar summary.

For homebuyers and refinancers, the practical implication of a third consecutive weekly decline is a slightly lower official survey average than the prior week’s 7.24%, while year-ago comparisons show rates remain elevated versus 6.22% for the 30-year and 5.50% for the 15-year. Individual APR and payment outcomes continue to depend on credit score, down payment, loan amount, property type and lender fees rather than the national average alone.

Sources: Freddie Mac Primary Mortgage Market Survey news release, Nov. 5, 2026; The Mortgage Reports, Nov. 6, 2026.