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Market Updates • November 9, 2026

Mortgage Rates This Week: 7.18% and Three Straight Strikeouts for High Rates ⚾

by Larry Hess

The Numbers

  • 30-year fixed: 7.18%, down from 7.24% last week (a year ago: 6.22%)
  • 15-year fixed: 6.57%, down from 6.60% (a year ago: 5.50%)
  • That’s the third drop in a row and the lowest 30-year rate since early October.

What It Means for Your Wallet

Principal and interest only:

  • $300,000 loan: about $2,032/mo, $12 less than last week
  • $400,000 loan: about $2,710/mo, $16 less than last week

Buyers

Three weeks of drops is a trend worth watching. Get pre-approved now so you’re ready to swing when the right house comes along.

Sellers

Lower rates bring buyers back into the batter’s box. Late fall listings face less competition.

Downsizers

If you’re buying with sale proceeds, rates matter less. But if you’re bridging two homes, every tenth of a point helps.

Your Turn

Are falling rates enough to get you off the bench this winter? 🤔

Larry “Closer” Hess, REALTOR® | SRES | ABR
Coldwell Banker Realty | Team Shope
C. 717.875.0598 | O. 717.534.2442 | larry@teamshope.com

Source: Freddie Mac Primary Mortgage Market Survey, Nov 5, 2026. Payments are principal and interest only, for illustration.

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