Market Update · 15 min read
The 30-Year Fell to 7.18%. Third Consecutive Weekly Decline.
Freddie Mac's November 5, 2026 survey put the 30-year fixed at 7.18%, down from 7.24% the week before, and the 15-year fixed at 6.57%, down from 6.60%. A year ago the averages were 6.22% and 5.50%. On $300,000, principal and interest is $2,032.30 a month on the 30-year and $2,624.88 on the 15-year.
Freddie Mac's Primary Mortgage Market Survey dated November 5, 2026 put the 30-year fixed-rate mortgage at 7.18 percent, down from 7.24 percent the week before. The 15-year fixed averaged 6.57 percent, down 3 basis points from 6.60 percent on October 29. A year ago at this time, the 30-year averaged 6.22 percent and the 15-year averaged 5.50 percent. The 30-year is therefore 96 basis points above its year-ago week, and the 15-year is 107 basis points above its year-ago week. Freddie Mac released the survey on Thursday, November 5, at noon Eastern. The survey page's line this week was plain: mortgage rates continued their downward trajectory this week, improving the environment for prospective homebuyers against a backdrop of strong economic growth. [1]
A 6-basis-point decline on the 30-year is the third straight weekly drop after the October 8 and October 15 plateau at 7.40 percent. The October 22 survey took the average from 7.40 percent to 7.32 percent. The October 29 survey took it to 7.24 percent. This week took it another 6 basis points lower, to 7.18 percent — 22 basis points below that two-week plateau and the lowest weekly print since the climb that began in late August. For a buyer who reran the numbers last week at 7.24 percent, the same $300,000 30-year loan now carries $12.19 less in principal and interest each month. Against the October 15 average of 7.40 percent, the same loan is $44.84 a month cheaper. That is real money and a small move at the same time. It does not erase the $191.00 monthly gap versus the year-ago 6.22 percent average on the same loan, and it does not lock a rate for any specific house.
The survey covers conventional, conforming, fully amortizing home-purchase loans for borrowers who put 20 percent down and have excellent credit. Freddie Mac builds the average from thousands of loan applications submitted through Loan Product Advisor by lenders across the country. The application window for a Thursday survey runs from the prior Thursday through Wednesday. This is a national average for that borrower profile. It is not an APR, it is not a quote for a specific house in Citrus, Hernando, Pasco, Hillsborough, Pinellas, or Marion County, and it does not include taxes, insurance, association dues, mortgage insurance, or lender fees. A written quote from a lender, on a dated rate sheet, is the figure a contract can actually use.
The November 5 scoreboard
- 30-year fixed: 7.18% — down 6 basis points from October 29 at 7.24%. A year ago: 6.22%.
- 15-year fixed: 6.57% — down 3 basis points from October 29 at 6.60%. A year ago: 5.50%.
- Gap between the two: 61 basis points this week, compared with 64 basis points on October 29. The 30-year fell 6 basis points; the 15-year fell 3.
- Year-over-year gap: the 30-year is 96 basis points above the year-ago week, and the 15-year is 107 basis points above the year-ago week.
The prior survey on this site is the October 29 Freddie Mac briefing, which took the 30-year from 7.32 percent to 7.24 percent and the 15-year from 6.68 percent to 6.60 percent. The survey before that, the October 22 Freddie Mac briefing, was the first weekly decline after the October 15 hold at 7.40 percent. This November 5 file is the next weekly survey in that same series — the third consecutive decline, and the second weekly print after the October 28 FOMC hold. The headline change is that both averages declined again, the 30-year reached its lowest weekly level since before the October climb peaked, and both remain close to a full percentage point above where they stood a year ago. Neither figure is a lock until a lender writes one for a specific borrower and property.
Twelve weeks from the August low
Freddie Mac's 2026 archive, as already briefed on this site, prints this path for the 30-year fixed:
- August 20: 6.65%
- August 27: 6.66%
- September 3: 6.71%
- September 10: 6.76%
- September 17: 6.95%
- September 24: 7.03%
- October 1: 7.28%
- October 8: 7.40%
- October 15: 7.40%
- October 22: 7.32%
- October 29: 7.24%
- November 5: 7.18%
From August 20 to October 8 the 30-year rose 75 basis points in seven straight weekly increases. October 15 held the line. October 22, October 29, and November 5 are the first three weekly declines since that climb, taking the average 22 basis points below the two-week plateau and still 53 basis points above the August 20 low. Three down weeks after a long rise is information. It tells a buyer that the weekly average did not hold near 7.40 percent, did not stall at 7.32 percent, and did not stall at 7.24 percent either. It does not tell that buyer a new downtrend is locked in, because three weeks are still three weeks. The 15-year, at 6.57 percent, declined 3 basis points this week after falling 8 basis points the week before and 3 basis points the week before that, from 6.71 percent on October 15.
What the payment math says on $300,000
A payment is principal, term, and rate run through the standard fully amortizing formula: M = P × r(1 + r)^n ÷ ((1 + r)^n − 1), where r is the annual rate divided by 12 and n is the number of months — 360 for a 30-year loan and 180 for a 15-year loan. The figures below use only the printed Freddie Mac survey rates on $300,000 of principal. They leave out taxes, insurance, association dues, and mortgage insurance. They are principal-and-interest only. They are not a quote, and they are a lock only when a lender writes one.
- 30-year at 7.18% (November 5): $2,032.30 a month in principal and interest.
- 30-year at 7.24% (October 29): $2,044.49 a month. This week's average is $12.19 a month below last week's average on the same loan, or $146.28 over twelve such payments.
- 30-year at 7.32% (October 22): $2,060.79 a month. This week's average is $28.49 a month below that print on the same loan.
- 30-year at 7.40% (October 15 and October 8): $2,077.14 a month. This week's average is $44.84 a month below that plateau on the same loan, or $538.08 over twelve such payments.
- 30-year at the year-ago 6.22%: $1,841.30 a month. This week's average is $191.00 a month above the year-ago average on the same $300,000, or $2,292.00 over twelve such payments.
- 15-year at 6.57% (November 5): $2,624.88 a month in principal and interest.
- 15-year at 6.60% (October 29): $2,629.84 a month. The 3-basis-point easing saves $4.96 a month, or $59.52 over twelve payments, on $300,000.
- 15-year at the year-ago 5.50%: $2,451.25 a month. This week's 15-year average is $173.63 a month above the year-ago average on the same loan.
Scaled to a round loan size, the year-over-year move on the 30-year is about $63.67 a month per $100,000 of principal. The one-week move on the 30-year is about $4.06 a month per $100,000. That contrast is the whole release in one line: the week eased again, and the year did not. A buyer choosing between the two products is also choosing a payment shape. On $300,000, the 15-year at 6.57 percent costs $592.58 more each month than the 30-year at 7.18 percent, and it retires the debt in half the time with far less total interest. The lower rate does not make the shorter loan the lower payment. Households pick the term their monthly budget can actually carry, then check the total interest over the years they expect to hold the loan.
A $300,000 loan with 20 percent down corresponds to a $375,000 purchase price. That price is an illustration so the survey has a dollar figure attached to it, because Freddie Mac's surveyed borrower is the 20-percent-down profile. It is not a median price for any Florida county, and it should not be read as one. A buyer putting less down will carry a larger loan on the same house and may carry mortgage insurance on top of principal and interest. A buyer putting more down will carry a smaller loan. The survey rate is the starting coupon for the illustration. The actual note rate, points, and fees come from the lender's written quote.
How this sits next to the October FOMC hold
This is the second weekly Primary Mortgage Market Survey after the Federal Open Market Committee's October 27–28 meeting. The October 28 statement kept the funds target range at 3.75 to 4.00 percent on a 10–2 vote, with Lisa D. Cook and Beth M. Hammack preferring a hike. The funds rate is the overnight policy rate set by the Federal Reserve. The Freddie Mac average is the weekly rate on conforming purchase applications. The two are related through the broader bond market, and they are not the same number. A hold by the committee does not mechanically set the next Thursday print, and nothing in this survey is a rewrite of that statement.
Between the October 15 plateau at 7.40 percent and this survey, the market has moved the conforming average down 22 basis points to 7.18 percent. That move happened in application rates for purchase loans across three weekly surveys, one before the meeting and two after it. The next Freddie Mac survey will show whether the average continues lower, holds near 7.18 percent, or rises again. This post takes no position on that outcome. It records the survey that is actually out: 7.18 percent on the 30-year and 6.57 percent on the 15-year for the week ending November 5, 2026.
A separate daily index from the same Thursday
Freddie Mac's weekly average is not the only published snapshot. Mortgage News Daily's daily index as of November 5, 2026 put the 30-year fixed at 7.17 percent, down 0.05 from its prior daily print, and the 15-year fixed at 6.80 percent, also down 0.05. The same daily table listed jumbo 30-year at 7.37 percent, the 7/6 ARM at 6.66 percent, FHA 30-year at 6.80 percent, and VA 30-year at 6.82 percent. [2]
That daily index is a different sample from Freddie Mac's weekly survey. The 15-year figures, in particular, are not interchangeable. Freddie Mac averages conventional conforming purchase applications over a Thursday-through-Wednesday window. Mortgage News Daily publishes a weekday index of advertised lender rates and includes product types — jumbo, ARM, FHA, and VA — that the weekly PMMS page does not print. Use each number for what it is. A contract still needs a written quote on the house being offered.
How this sits next to sales, prices, taxes, and local growth
A mortgage survey does not count houses, and a sales release does not set a payment. September new-home sales and August house prices put new-home sales at a 676,000 seasonally adjusted annual rate, with 476,000 houses for sale and an 8.4-month supply. Those are units sold and price indexes. The buyer standing in a builder's office or a resale showing brings this week's 7.18 percent survey average to that meeting as the financing backdrop, then reads the specific price, lot, buydown, and insurance terms on the contract.
Construction volume is a separate clock. September housing starts put starts at 1,221,000. A starts file does not print a mortgage coupon. A mortgage survey does not authorize a permit. A Florida household shopping a new or nearly new house lives in both files at once.
Local growth is a third clock. Hernando County's ten-year growth briefing documents the county population and permit story that sits next to any national coupon. A national mortgage average does not print a county population or a permit count, and a county growth file does not print a mortgage coupon. Statewide context stays on Florida markets, and purchase work sits on residential buying.
Taxes are the part of the monthly cost this survey never touches. Principal and interest at 7.18 percent is one line of the monthly figure. The tax bill, the insurance premium, and any association dues are the other lines, and on a Florida house they can move independently of anything Freddie Mac publishes on a Thursday. The homestead and assessment changes that begin in 2027 are a different file: Florida Amendment 3. An owner comparing a purchase against staying put should line the payment, the tax estimate, and the insurance quote up on the same page before deciding that a 6-basis-point weekly decline changed the answer.
What buyers, sellers, and owners can use
For a buyer, the practical reading is narrow. If you were quoted against the October 29 survey at 7.24 percent, ask whether your lender will refresh the quote against this week's lower average — and get any new figure in writing, with the rate, term, points, lender fees, and mortgage-insurance treatment on the page, plus how long the quote holds. On $300,000, the 30-year average moved $12.19 a month lower this week and $44.84 a month lower than the October 15 plateau at 7.40 percent. If your quote is older — from October 22 at 7.32 percent or from the 7.40 percent weeks — rerun the payment before you rely on it. The Florida home buying guide is the process layer for that search. Statewide context stays on Florida markets, and purchase work sits on residential buying. A written quote starts on the mortgage page.
For a seller, a third weekly easing after the October 15 plateau at 7.40 percent is not a signal to reprice on the survey alone. Buyers financing today are still underwriting at coupons 96 basis points above the year-ago week, which is $191.00 a month more in principal and interest on a $300,000 30-year loan than the same loan carried a year ago. That is the financing environment your asking price has to meet, alongside condition, insurance, and comparable closed sales. Three weeks in which the average eased help at the margin — a buyer this week does not have to absorb a higher survey print than last week — but the level, not the one-week change, is what a monthly budget feels. The Florida home pricing strategy guide is that conversation. A buyer who asks for help with closing costs instead of a lower price needs a separate comparison: seller credit versus a price reduction. Listing work sits on residential selling.
For an owner with a loan already closed, this survey does not rewrite your note. Its use is the next decision. A refinance has to beat your current coupon after closing costs, and an average of 7.18 percent will not beat a note written in a lower-rate year. A purchase of the next house, or a sale into this market, is priced against this survey environment and against your own tax and insurance lines. If you are selling and buying in the same stretch, coordinating the two closings is the separate note, buy and sell a Florida home at the same time. Owners watching the next Fed meeting should keep the two clocks separate: the overnight funds rate is one file, and the weekly conforming purchase average is another. Neither one is a substitute for a written quote on a specific property. The next SEP meeting on the Fed calendar is December 8–9.
What comes next on this tape
Freddie Mac publishes the next survey on Thursday, November 12, at noon Eastern. That survey will show whether the 30-year average continues lower from 7.18 percent, holds near this week's level, or rises again. The Federal Open Market Committee's next projection meeting is December 8–9. This post takes no position on what either file will say. It records the survey that is actually out: 7.18 percent on the 30-year, 6.57 percent on the 15-year, for the week ending November 5, 2026 — the third consecutive weekly decline.
The through-line for a Florida household is discipline about levels. The 30-year average is down 6 basis points on the week, down 22 basis points from the October 15 plateau, and up 96 basis points on the year. The 15-year average is down 3 basis points on the week and up 107 basis points on the year. On $300,000, that is $2,032.30 a month on the 30-year and $2,624.88 a month on the 15-year, before taxes, insurance, and dues. A buyer who lines that payment up against a specific house, a dated written quote, and the tax and insurance lines for that address has everything this survey can honestly give them. The rest is the house.
For local process, keep the Florida home buying guide and the Citrus, Hernando, Pasco, Hillsborough, and Pinellas overviews in the same reading list.
Bridge Point Business & Real Estate Advisors helps buyers and sellers read a weekly average against a specific house. Through the mortgage page, Bridge Point can introduce licensed lenders who evaluate financing and provide the actual quotes. Bridge Point does not make or approve loans. Purchase and sale work sits on residential buying and residential selling. Statewide context stays on Florida.
Call 352-515-0226, email Info@BridgePointBREA.com, or contact Bridge Point. Bring the address and any quote you already have so the conversation can start from a written figure.
*This article provides general educational information about a national weekly mortgage survey. It is not a loan quote, a lock, or lending advice for a particular borrower or property. Confirm the rate, points, and payment with a licensed lender.*
Sources and further reading
Prepared November 6, 2026. Survey figures are Freddie Mac's Primary Mortgage Market Survey for the week ending November 5, 2026, released Thursday, November 5, at noon Eastern. Payment figures are the standard fully amortizing calculation on $300,000 of principal at the printed survey rates and exclude taxes, insurance, association dues, and mortgage insurance.
[1] Freddie Mac — Primary Mortgage Market Survey, week ending November 5, 2026
[2] Mortgage News Daily — daily mortgage rate index as of November 5, 2026
[3] Bridge Point — Freddie Mac October 29, 2026 survey
[4] Bridge Point — Freddie Mac October 22, 2026 survey
[5] Bridge Point — October 28, 2026 FOMC hold
[6] Bridge Point — Mortgage guidance
[7] Bridge Point — Florida markets
[8] Bridge Point — Residential buying
Questions people ask first
Quick answers to common questions about this topic.
What was the mortgage rate on November 5, 2026?
Freddie Mac's Primary Mortgage Market Survey dated November 5, 2026 put the 30-year fixed-rate mortgage at 7.18%, down from 7.24% on October 29, and the 15-year fixed at 6.57%, down from 6.60%. A year ago the averages were 6.22% on the 30-year and 5.50% on the 15-year. The survey covers conventional, conforming, fully amortizing purchase loans for borrowers who put 20% down and have excellent credit.
Did mortgage rates fall in the November 5, 2026 survey?
Yes. The 30-year fixed fell 6 basis points, from 7.24% to 7.18%, the third weekly decline after the October 8 and October 15 plateau at 7.40%. The 15-year fixed fell 3 basis points, from 6.60% to 6.57%. On $300,000, the 30-year easing is $12.19 a month in principal and interest versus the prior week.
Is this the third consecutive weekly decline in mortgage rates?
Yes, on Freddie Mac's 30-year average. The survey fell from 7.40% on October 15 to 7.32% on October 22, 7.24% on October 29, and 7.18% on November 5. That is 22 basis points below the October 15 plateau. Three weekly declines are a recorded path. They are not a lock on the next Thursday print.
What is the payment on a $300,000 loan at 7.18%?
Principal and interest on $300,000 for 30 years at 7.18% is $2,032.30 a month, using M = P × r(1 + r)^n ÷ ((1 + r)^n − 1) with r at the monthly rate and n at 360 months. At last week's 7.24% the same loan was $2,044.49 a month. At the October 15 average of 7.40% it was $2,077.14. At the year-ago average of 6.22% it was $1,841.30 a month. These figures exclude taxes, insurance, association dues, and mortgage insurance. They are not a quote.
What is the payment on a $300,000 15-year loan at 6.57%?
Principal and interest on $300,000 for 15 years at 6.57% is $2,624.88 a month. At last week's 6.60% it was $2,629.84, so the 3-basis-point easing saves $4.96 a month. At the year-ago 15-year average of 5.50% it was $2,451.25 a month.
How does the November 5 survey compare with a year ago?
The 30-year average of 7.18% is 96 basis points above the year-ago 6.22%. The 15-year average of 6.57% is 107 basis points above the year-ago 5.50%. On $300,000, the year-over-year difference is $191.00 a month on the 30-year and $173.63 a month on the 15-year in principal and interest.
How does this survey relate to the October FOMC hold?
This is the second weekly Freddie Mac Primary Mortgage Market Survey after the Federal Open Market Committee held the federal funds target range at 3.75 to 4.00 percent on October 28, 2026. The survey records conforming purchase application rates for the week ending November 5. It is not a rewrite of the Committee's decision, and the funds rate is not the same number as the Freddie Mac average. The next survey prints November 12.
Is the Mortgage News Daily rate the same as Freddie Mac's survey?
No. Mortgage News Daily's daily index as of November 5 put the 30-year at 7.17% and the 15-year at 6.80%, with jumbo, ARM, FHA, and VA prints alongside. Freddie Mac's weekly survey put the 30-year at 7.18% and the 15-year at 6.57%. They are different samples and different publication calendars. A lock still comes from a lender's written quote.
When is the next Freddie Mac mortgage survey?
Freddie Mac publishes the Primary Mortgage Market Survey on Thursdays at noon Eastern. The next print after November 5, 2026 is Thursday, November 12, 2026.
Who can help apply this to a Florida purchase or listing?
Bridge Point Business & Real Estate Advisors advises buyers and sellers across Hernando, Citrus, Pasco, Hillsborough, and Pinellas. Bridge Point can introduce licensed lenders for a written quote. Call 352-515-0226 or request a consultation.
Talk with Bridge Point
Considering a purchase or sale in this market? Local guidance can make a meaningful difference.
Schedule a consultation
