The average rate on a 30-year fixed mortgage was 7.11% in the week ending Nov. 12, 2026, according to Freddie Mac's Primary Mortgage Market Survey. That is down from 7.18% a week earlier and is the fourth weekly decline in a row since the rate reached 7.40% in the weeks of Oct. 8 and Oct. 15. A year earlier, in the week of Nov. 13, 2025, the same average was 6.24%.

The 15-year fixed rate averaged 6.45%, down from 6.57% the week before and up from 5.49% a year earlier.

What the survey measures

Freddie Mac builds the weekly figure from loan applications that lenders submit to its Loan Product Advisor system. The survey covers conventional, conforming, single-family purchase loans nationwide, and each Thursday release averages the rates offered from the prior Thursday through Wednesday. It is a national average, so the rate on any one loan depends on the borrower's credit, down payment, loan size, points and the lender. Freddie Mac no longer publishes adjustable-rate averages or fees and points in the survey.

Where 7.11% sits in 2026

The 30-year average opened the year at 6.16% in the week of Jan. 8 and reached its 2026 low of 5.98% in the week of Feb. 26, according to Freddie Mac's historical table. It then climbed through the spring and summer, crossing 6.5% in late May and 7% in the week of Sept. 24. The 7.40% readings in October were the highest since the week of Nov. 16, 2023, when the survey averaged 7.44%.

Across the 45 weekly readings so far in 2026, the 30-year rate has averaged about 6.54%, based on a HomeLife Wave calculation from Freddie Mac's published history. The current rate is 0.29 percentage point below the October peak and 1.13 points above the February low.

What the change means on a payment

Rate moves of a few tenths of a point show up directly in a monthly payment. On a $320,000, 30-year fixed loan, principal and interest come to about $2,153 a month at 7.11%, about $2,216 at 7.40% and about $1,968 at last year's 6.24%, by standard amortization arithmetic. Those figures leave out property taxes, homeowners insurance, mortgage insurance and any association dues, which a lender adds to estimate the full housing payment.

The same $320,000 balance on a 15-year loan at 6.45% would carry principal and interest of about $2,779 a month. The higher payment reflects the shorter term, and the total interest paid over the life of the loan is far lower.

Reading one week of data

A single weekly reading can move with bond markets, and Freddie Mac's figure is an average of offered rates, not a forecast. The four-week decline brings the rate back to roughly where it stood in the last week of September. The survey shows the rate is still higher than it was at any point from January through mid-September of this year.

Borrowers comparing offers can line them up on the Consumer Financial Protection Bureau's standard Loan Estimate form, which every lender must deliver within three business days of an application and which shows the rate, points, closing costs and projected payments in the same layout. The bureau's guide to the form explains each section.

When the next figure comes out

Freddie Mac publishes the survey on Thursdays at noon Eastern time. When a federal holiday falls on a Thursday, the release moves to Wednesday. Thanksgiving falls on Thursday, Nov. 26, so under that rule the survey for that week is due on Wednesday, Nov. 25, a week after the Nov. 19 release. The full weekly history back to 1971 is downloadable from Freddie Mac's survey page.

This article reports rules, data and expert guidance. It is not legal, tax, insurance or financial advice. Talk to a licensed pro, your tax advisor or your insurer before you act on it.

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