It was a perfectly fine day for mortgage rates to start the new week. The underlying bond market improved modestly, drawing on a combination of sharply lower oil prices and another drop in tech-related stocks. While it's true that oil prices haven't had a reliable impact on bonds/rates over the past month, today's drop was big enough that is probably helped to some extent, especially when we consider some headwinds created by updated borrowing estimates released by the U.S. Treasury today. Once per quarter, Treasury updates estimated Treasury auction amounts. Treasuries are the foundation of almost all interest rates in the U.S. When supply increases or demand falls, it puts downward pressure on prices and upward pressure on rates, all else equal. Today's upward pressure was fairly modest, but still noticeable. Mortgage lenders played it fairly safe by setting today's rates perfectly in line with last Friday's. That makes today tied for the lowest 30yr fixed level since September 23rd, 2026.

November 2, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 7.27% +0.00%   5.99% 7.61% 15 Yr. Fixed 6.92% +0.00%   5.55% 7.23% 30 Yr. Jumbo 7.52% -0.03%   6.26% 7.71% Compare Mortgage Rates from Local Lenders for Nov 2, 2026 Mortgage Rates Hold Steady at Recent Lows Mon, Nov 2, 2026 3:39PM It was a perfectly fine day for mortgage rates to start the new week. The underlying bond market improved modestly, drawing on a combination of sharply lower oil prices and another drop in tech-related stocks. While it's true that oil prices haven't had a reliable impact on bonds/rates over the past month, today's drop was big enough that is probably helped to some extent, especially when we consider some headwinds created by updated borrowing estimates released by the U.S. Treasury today. Once per quarter, Treasury updates estimated Treasury auction amounts. Treasuries are the foundation of... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 7.27% 0.00 0.00 15 Yr. Fixed 6.92% 0.00 0.00 30 Yr. FHA 6.91% +0.01 0.00 30 Yr. Jumbo 7.52% -0.03 0.00 7/6 SOFR ARM 6.70% -0.08 0.00 30 Yr. VA 6.92% +0.01 0.00 Updates Daily - Last Update: 11/2 Freddie Mac Rate Change Points 30 Yr. Fixed 7.24% -0.08 0.00 15 Yr. Fixed 6.60% -0.08 0.00 Updates Weekly - Last Update: 10/29 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 99.94 +0.13   97.78 102.75 UMBS 30YR 6.5 101.69 +0.03   100.34 104.00 10 YR Treasury 4.891 -0.039   3.948 5.318 Slightly Stronger Start. Mostly Holding After ISM Data Mon, Nov 2, 2026 10:22AM Bonds were initially a hair weaker at the start of the overnight session, but rallied gradually after that. The sharpest gains arrived at the 9:30am NYSE open, suggesting money manager reallocations and "new month" trades. ISM Manufacturing hit 30 minutes later and the first reaction was modest bounce toward slightly higher yields and slightly higher stock p... (read more) MBS Price Change UMBS 5.5 97.73 +0.14 UMBS 6.0 99.90 +0.09 UMBS 6.5 101.64 -0.01 GNMA 5.5 97.98 +0.18 GNMA 6.0 99.90 +0.02 GNMA 6.5 101.53 0.00 Pricing as of: 11/2 4:13PM EST US Treasury Yield Change 2 YR Treasury 4.585 -0.004 5 YR Treasury 4.700 -0.021 7 YR Treasury 4.787 -0.027 10 YR Treasury 4.904 -0.026 30 YR Treasury 5.278 -0.030 Pricing as of: 11/2 4:13PM EST Other News Broker, Home Equity, Verification, M&A Data; Legal Issue Conference; Non-Agency Product News Mon, Nov 2, 2026 11:44AM Sometimes you and your teammates have different priorities. I head to Dallas tomorrow for a private mortgage event, where the priorities will probably be mostly aligned. Besides the election, and perhaps the inflation-beating Costco’s Thanksgiving meal, the profitability of HELOCs, 2nd mortgages, and equity products in general will definitely be a discussion... (read more) Latest Video October ISM manufacturing PMI comes in at 55.5, beating estimates Fed's Logan: Need at least 2 quarter-point hikes, calls for pause after 50 ... Third-quarter U.S. GDP increases a better-than-expected 3.4% as September i... Fed's Musalem: Not concerned by recent tightening of financial conditions Around the Web CNBC Fed will vote on rates less often. What that could mean for borrowers Reuters US Treasury cuts fourth-quarter borrowing estimate to $618 billion ISM October Manufacturing PMI at 55.5% CNBC Oracle files to sell $20 billion in new stock, bonds to finance AI buildout Investing Live US construction spending for the month of September -1.9% versus 0.3% estimate CNBC Crude prices slide as investors brace for a big week Eye on Housing Private Residential Construction Slips as Remodeling Weakens CNBC Treasury yields mixed as oil prices tumble ahead of the midterms Investing Live Fed’s Logan: At least two more quarter-point rate hikes needed Investing Live Fed's Barkin: Direction of travel is straightforward for the Fed CNBC St. Louis Fed's Musalem: Tighter monetary policy is needed 'soon' Investing Live Fed’s Daly: AI matters for near- and medium-term policy Investing Live US S&P Global final manufacturing PMI for October 54.9 vs 56.0 preliminary

© 2026  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.