Mortgage Interest Rates Forecast

Adult, Female, Person

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

Updated · 1 min read
Profile photo of Holden Lewis
Written by Holden Lewis
Senior Writer/Spokesperson
Profile photo of Jeanette Margle
Edited by Jeanette Margle
Lead Assigning Editor
Fact Checked

Mortgage rates this week

A Federal Reserve rate cut didn't prevent mortgage rates from rising in the week ending Nov. 7.

  • The 30-year fixed-rate mortgage averaged 6.86% APR, up 11 basis points from the previous week's average, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.

  • The 15-year fixed-rate mortgage averaged 6.05% APR, up three basis points from the previous week's average.

  • The 5-year adjustable-rate mortgage averaged 7.57% APR, up six basis points from the previous week's average.

The Fed cut the overnight federal funds rate by a quarter of a percentage point on Nov. 7. But mortgage rates moved in the opposite direction because investors appear to have a sunny view of the economy's future over what an elated Wall Street Journal headline called the "new Trump boom."

Explore mortgages today and get started on your homeownership goals
Get personalized rates. Your lender matches are just a few questions away.
Won’t affect your credit score

November mortgage rate forecast

November's mortgage rate forecast is uncertain, depending partly on whether Republicans control both houses of Congress.

Forecasts from Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors all imply that mortgage rates will fall in the final three months of this year and gradually decline throughout next year. The three organizations predict that the 30-year mortgage will average 6% to 6.3% from October through December, and to settle below 6% in the final three months of 2025.

As of the end of October, the 30-year mortgage rate averaged 6.43% in the fourth quarter. For the predictions of lower rates in the fourth quarter to pan out, mortgage rates would need to fall decisively in November and December. Time is running short for that to happen.

Video preview image
MORE LIKE THISMortgages
Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.