Yesterday, it was a drop below 7.25%. Today, the 7.20% floor was broken. Mortgage rates have been on a tear over the past month and are now back to 7.17% for the average lender. If there's one thing that deserves most of the credit for this bull run, it's the extreme bearishness in tech stocks. The NASDAQ is now down roughly 14% from the October highs and the drop perfectly coincides with the drop in bond yields and interest rates.  The road ahead is fairly simple: if tech continues causing panic in stocks, interest rates can continue to benefit. The caveat is that the benefit to rates has been getting smaller and smaller relative to the drama in stocks. This would also suggest that any miraculous bounce in stocks would likely prompt a similar correction in rates.  Economic data still matters as well. On that note, tomorrow brings the monthly jobs report, which should always be respected as a potential source of volatility. 

November 5, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 7.17% -0.05%   5.99% 7.61% 15 Yr. Fixed 6.80% -0.05%   5.55% 7.23% 30 Yr. Jumbo 7.37% -0.03%   6.26% 7.71% Compare Mortgage Rates from Local Lenders for Nov 5, 2026 Another Decent Drop as Mortgage Rates Move Under 7.2% Thu, Nov 5, 2026 2:15PM Yesterday, it was a drop below 7.25%. Today, the 7.20% floor was broken. Mortgage rates have been on a tear over the past month and are now back to 7.17% for the average lender. If there's one thing that deserves most of the credit for this bull run, it's the extreme bearishness in tech stocks. The NASDAQ is now down roughly 14% from the October highs and the drop perfectly coincides with the drop in bond yields and interest rates.  The road ahead is fairly simple: if tech continues causing panic in stocks, interest rates can continue to benefit. The caveat is that the benefit to rates ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 7.17% -0.05 0.00 15 Yr. Fixed 6.80% -0.05 0.00 30 Yr. FHA 6.80% -0.09 0.00 30 Yr. Jumbo 7.37% -0.03 0.00 7/6 SOFR ARM 6.66% -0.07 0.00 30 Yr. VA 6.82% -0.08 0.00 Updates Daily - Last Update: 11/5 Freddie Mac Rate Change Points 30 Yr. Fixed 7.18% -0.06 0.00 15 Yr. Fixed 6.57% -0.03 0.00 Updates Weekly - Last Update: 11/5 Mortgage Bankers Assoc. 30 Yr. Fixed 7.37% -0.04 0.76 15 Yr. Fixed 6.70% -0.03 0.85 30 Yr. Jumbo 7.28% -0.05 0.64 Updates Weekly - Last Update: 10/28 UMBS 30YR 6.0 100.35 +0.15   97.78 102.75 UMBS 30YR 6.5 102.00 +0.04   100.34 104.00 10 YR Treasury 4.835 -0.050   3.948 5.318 Modestly Weaker For a Few Potential Reasons Thu, Nov 5, 2026 9:06AM Bonds are starting the day a few bps weaker. 10yr yields are just over 4.90% and considering they were almost 50bps higher a month ago, you're free to go about your business today without scrutinizing this morning's baby bump. It could be purely incidental. But for those who demand scapegoats, the easiest suspect to blame would be corporate debt issuance fro... (read more) Other News HFA, Broker, AI Appraisal Review, LO Directing, AI Title Search Tools; STRATMOR on M&A Thu, Nov 5, 2026 11:25AM Why am I a sucker for stories like, “What Do the Twins in the Shining Look Like Now?”? Is the American public a sucker for not being more concerned that no politician seems concerned about the burgeoning deficit? Will there be any “fiscal conservatives” in Congress, or the White House? Here in Dallas, one of the topics, of course, is the election. Yesterday ... (read more) Latest Video Outside of a big pullback in rates, don't see housing demand picture changi... Fed's Logan: Need at least 2 quarter-point hikes, calls for pause after 50 ... ISM non-manufacturing PMI comes in at 54.5 in October, below estimates October ISM manufacturing PMI comes in at 55.5, beating estimates Around the Web Investing Live US initial jobless claims 189K vs 196K estimate Investing Live Nasdaq Composite breaks the July low in 5.5% rout CNBC Banks are turning cautious on lending, according to the Fed. What it means for the economy CNBC Barkin sees interest rate hikes ahead, but at a gradual pace CNBC A massive trade just happened in a leading mortgage lender: Watch Options Action Live HousingWire Exclusive: Victor Ciardelli on merger of Rate, Compass JVs into top-10 retail lender Investing Live Fed's Hammack: Gradual rate hikes are the best way to get inflation to target CNBC Markets cool after the monster midterm rally with Musk's stocks under pressure Challenger Gray October Layoffs at Three-Year Low; Seasonal Hiring Plans Up 26% Eye on Housing Multifamily Developer Confidence Weakens in Third Quarter Institute for Supply Management ISM: Services PMI at 54.5% Investing Live EIA weekly US crude oil inventories -865K vs +877K expected BLS Nonfarm business sector labor productivity increased 3.6 percent in Q3

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