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Housing · November 12, 2026 · 2 min read

Freddie Mac mortgage average falls to 7.11%, still above a year earlier

By Econ Data Tools Editorial Team

Published November 12, 2026 • Updated November 12, 2026

The November 12 survey shows a fourth weekly decline in 30-year rates. Its Thursday-through-Wednesday application window and selected loan profile limit comparisons with live quotes.

Freddie Mac reported on November 12, 2026 that the average 30-year fixed-rate mortgage was 7.11%, down from 7.18% a week earlier. It was the fourth consecutive weekly decline and the lowest level in seven weeks. The average was still above the 6.24% reported at the same time a year earlier. The 15-year fixed-rate mortgage averaged 6.45%, compared with 6.57% the previous week and 5.49% a year earlier. Both loan terms became cheaper on this weekly measure, but neither result establishes that borrowing costs have returned to their year-earlier level or that every borrower can obtain the average rate. The Primary Mortgage Market Survey is based on rates from thousands of applications submitted by lenders through Freddie Mac's Loan Product Advisor. The release focuses on conventional, conforming, fully amortizing home-purchase loans for borrowers with excellent credit who put 20% down. It is not an average across every mortgage product or borrower profile. The timing matters. Freddie Mac publishes the results on Thursdays at noon Eastern, using application activity from the prior Thursday through Wednesday. The November 12 release is therefore a weekly average, not a live Thursday quote or proof that lenders repriced loans after any particular same-day economic announcement. Freddie Mac no longer publishes average fees and points with PMMS because lenders are not always required to provide those fields. A rate average alone does not describe a borrower's complete financing cost. It also cannot show that a particular household's payment fell without knowing the loan amount, term and other costs. The release supports a limited conclusion: the reported weekly average fell, while remaining higher than a year earlier. It does not forecast the next mortgage-rate move, prove a change in home sales or loan applications, or establish how the Federal Reserve will act. Buyers still need a current offer for their own loan and circumstances.

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