Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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Average 30-Year Mortgage Rate at 7.064% as 30-Year APR Falls to 7.237%
The average 30-year fixed mortgage rate is 7.064% and the average 15-year fixed rate is 6.583%. The average 30-year APR fell 0.028 percentage points to 7.237% between October 27 and November 2, and the 15-year APR fell 0.033 percentage points to 6.780%.
The average 30-year fixed mortgage rate is 7.064% and the average 15-year fixed rate is 6.583%. The average 30-year APR, which adds points and lender fees to the interest rate, fell 0.028 percentage points to 7.237% between October 27 and November 2, from 7.265%, and the 15-year APR fell 0.033 percentage points to 6.780%. 30-year jumbo APRs fell 0.040 percentage points to 7.229% and 15-year jumbo APRs fell 0.071 percentage points to 6.774%, while 5/1 ARM APRs held steady at 6.882%. FHA APRs average 7.546% and VA APRs 7.131%, both below the October 26 report.
Key takeaways
- The average 30-year fixed mortgage rate is 7.064% and the average 15-year fixed rate is 6.583%; 50.1% of the 30-year fixed rates in the pool are above 7.00%.
- The average 30-year APR fell 0.028 percentage points to 7.237%, from 7.265% on October 27, and the 15-year APR fell 0.033 percentage points to 6.780%. APR includes points and lender fees.
- 15-year jumbo APRs fell 0.071 percentage points to 6.774%, 5/1 jumbo ARM APRs fell 0.059 percentage points to 6.790%, and 30-year jumbo APRs fell 0.040 percentage points to 7.229%; 5/1 ARM APRs held steady at 6.882%.
- FHA APRs average 7.546%, down from 7.638% in the October 26 report, and VA APRs average 7.131%, down from 7.220%; the average FHA rate is 6.846% and the average VA rate is 6.809%.
- The 10-year Treasury yield was 4.98% on October 29, after 5.05% on October 28, the day the Federal Reserve kept its range at 3.75% to 4.00%.
The average 30-year fixed mortgage rate is 7.064%; the average APR fell 0.028 percentage points
Conventional mortgage rates, national average APR since April 13
Average APRs from MonitorBankRates.com's nightly collection, updated daily.
The average 30-year fixed mortgage rate is 7.064% and the average 15-year fixed rate is 6.583%. The average rate is the interest rate lenders quote; APR adds points and lender fees, which is why each APR is higher. The average 30-year APR was 7.265% on October 27 and is 7.237% on November 2, and the 15-year APR went from 6.813% to 6.780%. The 30-year average is calculated from 1,007 rates at 508 lenders, and the 15-year average from 777 rates at 504 lenders.
Among adjustable-rate mortgages, the average 5/1 ARM rate is 6.374% and its APR held steady at 6.882%, from 6.881%, from 165 lenders. The average 7/1 ARM rate is 6.452% and its APR is 6.889%, from 210 lenders; the average 3/1 ARM rate is 6.138% and its APR is 6.803%, from 66 lenders. The 7/1 and 3/1 APRs are higher than in the October 26 report, when they averaged 6.879% and 6.779%.
15-year jumbo, FHA and VA averages posted the largest declines
15-year jumbo APRs fell 0.071 percentage points to 6.774%, from 6.845%, 5/1 jumbo ARM APRs fell 0.059 percentage points to 6.790%, from 6.849%, and 30-year jumbo APRs fell 0.040 percentage points to 7.229%, from 7.269%. The average 30-year jumbo rate is 7.136%, the average 15-year jumbo rate is 6.673%, and the average 5/1 jumbo ARM rate is 5.874%. Jumbo averages come from the smallest lender pools we track: 58 lenders reported 30-year jumbo rates, 22 reported 15-year jumbo rates, and 5 reported 5/1 jumbo ARM rates, and with pools that size an average can move by large amounts when lenders enter or leave. FHA APRs average 7.546%, from 7.638% in the October 26 report, and VA APRs average 7.131%, from 7.220%; the average FHA rate is 6.846% and the average VA rate is 6.809%.
Jumbo and FHA rates, national average APR since April 13
Average APRs from the nightly collection. VA loans are omitted from this chart pending a data-quality fix in the nightly series.
Two of the ten average rates are above 7.00%: 30-year jumbo at 7.136% and 30-year fixed at 7.064%. Four of the ten average APRs are above 7.00%: FHA at 7.546%, 30-year fixed at 7.237%, 30-year jumbo at 7.229%, and VA at 7.131%. The same four APRs were above 7.00% in the October 26 report. The rate or APR an individual borrower is quoted depends on the lender and the loan file as well as the program. Buyers comparing local offers can line up Florida mortgage rates against these national averages, and borrowers looking for a lender can search our mortgage lenders and brokers directory by location, including mortgage lenders in Tampa, Florida.
Change by loan type (percentage points)
Average APRs, October 27 to November 2; FHA, VA, 3/1 ARM and 7/1 ARM from October 26. Red bars rose; green bars fell.
Average mortgage rates and APRs for ten loan types on November 2
| Loan Product | November 2 Avg Rate | October 27 APR | November 2 APR | APR Change |
|---|---|---|---|---|
| Conventional Fixed-Rate Mortgages | ||||
| 30-Year Fixed ▼ | 7.064% | 7.265% | 7.237% | ▼ -0.028 |
| 15-Year Fixed ▼ | 6.583% | 6.813% | 6.780% | ▼ -0.033 |
| Conventional Adjustable-Rate Mortgages (ARM) | ||||
| 3/1 Conventional ARM ▲ | 6.138% | 6.779% | 6.803% | ▲ +0.024 |
| 5/1 Conventional ARM ▲ | 6.374% | 6.881% | 6.882% | ▲ +0.001 |
| 7/1 Conventional ARM ▲ | 6.452% | 6.879% | 6.889% | ▲ +0.010 |
| Jumbo Mortgages (Above Conforming Limits) | ||||
| 30-Year Jumbo ▼ | 7.136% | 7.269% | 7.229% | ▼ -0.040 |
| 15-Year Jumbo ▼ | 6.673% | 6.845% | 6.774% | ▼ -0.071 |
| 5/1 Jumbo ARM ▼ | 5.874% | 6.849% | 6.790% | ▼ -0.059 |
| Government-Backed Loans | ||||
| FHA Loans ▼ | 6.846% | 7.638% | 7.546% | ▼ -0.092 |
| VA Loans ▼ | 6.809% | 7.220% | 7.131% | ▼ -0.089 |
| Product-specific rate pages: 30-year fixed · 5/1 ARM · FHA loans · all loan types | ||||
| All figures are national averages of what real licensed institutions are actually quoting to borrowers, not published rate sheet estimates or teaser rates. The average rate is for November 2 only; weekly changes are shown for APR, the series stored daily. This report compares November 2 with October 27; FHA, VA, 3/1 ARM, and 7/1 ARM are compared with the October 26 report. The 5/1 jumbo ARM average is new to this table and comes from 5 lenders. Source: MonitorBankRates.com. | ||||
The 10-year Treasury yield was 4.98% on October 29
The 10-year Treasury yield was 5.01% on September 16, the day the Fed raised its range, 5.31% on October 5, 4.96% on October 22, 5.05% on October 28, and 4.98% on October 29, the latest reading in the Federal Reserve's published series. The Federal Reserve left its benchmark range at 3.75% to 4.00% on October 28, the first meeting since the September 16 increase. Fixed mortgage rates are priced from long-term Treasury yields rather than from that benchmark. The daily series on our mortgage rate trends page shows the same period.
Mortgage payment and affordability calculators use the current average
The mortgage affordability calculator estimates a price range from income, debts and the current MonitorBankRates average rate, drawing on rates published by more than 8,000 banks and credit unions and updated every day. State versions load that state's average rate, median home value, property taxes, and homeowners insurance; the New York mortgage calculator opens with that state's figures.
Lenders ask for proof of homeowners insurance at closing
A mortgage lender requires proof of homeowners insurance before closing, and the premium is usually part of the monthly payment beside principal, interest, and property taxes. Our MBR Home Insurance Burden Index ranks all 50 states by how heavily insurance weighs on homeowners, and Florida buyers can compare carriers in our Florida homeowners insurance guide.
Mortgage rate and APR averages on November 2
The average 30-year fixed mortgage rate is 7.064% (APR 7.237%) and the average 15-year fixed rate is 6.583% (APR 6.780%). Four of the ten average APRs are above 7.00%. The rate or APR any borrower is quoted depends on the lender, the loan file, and the property.
Mortgage rate questions for November 2
What is the average mortgage rate this week?
The average 30-year fixed mortgage rate is 7.064% as of November 2, 2026, and the average 15-year fixed rate is 6.583%. The average 30-year APR is 7.237%, down 0.028 percentage points from 7.265% on October 27, and the average 15-year APR is 6.780%.
Which mortgage averages are above 7.00%?
Two average rates are above 7.00%: 30-year jumbo at 7.136% and 30-year fixed at 7.064%. Four average APRs are above 7.00%: FHA at 7.546%, 30-year fixed at 7.237%, 30-year jumbo at 7.229%, and VA at 7.131%.
Which mortgage APR averages fell the most?
15-year jumbo APRs fell 0.071 percentage points to 6.774%, 5/1 jumbo ARM APRs fell 0.059 percentage points to 6.790%, and 30-year jumbo APRs fell 0.040 percentage points to 7.229%. FHA APRs average 7.546%, from 7.638% in the October 26 report, and VA APRs average 7.131%, from 7.220%.
What was the 10-year Treasury yield?
4.98% on October 29, after 5.05% on October 28, according to the Federal Reserve's published series.
Data Coverage & Methodology
All averages in this report are calculated from rates collected directly from institution websites by MonitorBankRates.com's proprietary systems, tracking what real licensed institutions are actually quoting to borrowers, not published rate sheet estimates or teaser rates.
As of November 2, 2026, these averages were calculated from 2,927 individual rates verified across all 10 loan types; the latest collection ran November 1, 2026. The table below shows how many lenders reported rates for each loan type.
The average rate in this report is the average of the interest rate over the same lender pool as the APR average. Weekly changes are shown for APR, which is the series stored each night.
| Loan Type | Institutions | Rates Verified |
|---|---|---|
| 30-Year Fixed | 508 | 1,007 |
| 15-Year Fixed | 504 | 777 |
| 3/1 Conventional ARM | 66 | 101 |
| 5/1 Conventional ARM | 165 | 253 |
| 7/1 Conventional ARM | 210 | 345 |
| 30-Year Jumbo | 58 | 79 |
| 15-Year Jumbo | 22 | 28 |
| 5/1 Jumbo ARM | 5 | 8 |
| FHA Loans | 105 | 165 |
| VA Loans | 100 | 164 |
| Total | 2,927 |
This report is for general information and is not financial advice. The rate any borrower receives depends on their credit profile, location, loan size, and points paid; confirm current pricing with lenders before making decisions.
