30-Year Mortgage Rate Slips to 7.18%

The average 30-year fixed mortgage rate fell to 7.18% as of November 5, 2026, Freddie Mac reported, down from 7.24% a week earlier and 7.32% on October 22. A basis point is one hundredth of a percentage point, so the two-week drop of 14 basis points is modest. Rates remain high for buyers.