Mortgage rates fall for a fourth straight week; 30-year averages 7.11%
The 30-year rate is at its lowest level in seven weeks but still about a point above a year ago, Freddie Mac says.
The average 30-year fixed-rate mortgage was 7.11% as of Thursday, Nov. 12, down from 7.18% a week earlier, according to Freddie Mac's weekly Primary Mortgage Market Survey. It is the fourth weekly decline in a row and the lowest level in seven weeks. A year ago, the 30-year rate averaged 6.24%.
The 15-year fixed-rate mortgage averaged 6.45%, down from 6.57% last week. A year ago it was 5.49%.
For a buyer, the weekly drop is small: on a $350,000, 30-year fixed loan, principal and interest at 7.11% come to about $2,354 a month, roughly $17 less than at last week's rate and about $202 more than at last year's 6.24%. Those figures are our own calculation and leave out taxes, insurance and fees.
The survey is a national average based on loan applications submitted to Freddie Mac.
Source: Freddie Mac Primary Mortgage Market Survey, Nov. 12, 2026, opened Nov. 12, 2026.