Mortgage Rates Rise in November Amid Post-Election Market Volatility

Mortgage rates climbed in November, driven by market volatility and a surge in Treasury yields following the recent elections. On the day after the election results, the 10-year Treasury yield spiked by 14 basis points (bps), setting the stage for further rate increases throughout the month.
According to Freddie Mac, the average rate for a 30-year fixed-rate mortgage increased 38 basis points from October, reaching 6.81%. Meanwhile, the 15-year fixed-rate mortgage saw an even steeper increase of 43 bps to land at 6.03%.
The 10-year Treasury yield, a key benchmark for mortgage rates, averaged 4.37% in November — 38 bps higher than October’s average. This increase reflected heightened market uncertainty and persistent volatility.
NAHB Economist Catherine Koh shares forecasts for how these rates may be impacted following the activities of the Dec. 17-18 meeting of the Federal Reserve in this Eye on Housing post.
Latest from NAHBNow
Jul 18, 2025
Single-Family Starts Weaken in June as Affordability Challenges PersistDue to a solid increase in multifamily production, overall housing starts increased 4.6% in June to a seasonally adjusted annual rate of 1.32 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Jul 17, 2025
Stay on Top of Wood Framing Safety PoliciesWood framing is an integral part of the home building process, and one job that many general contractors take on themselves. But even with familiarity of the task, specific safety precautions should be followed during framing.
Latest Economic News
Jul 18, 2025
Single-Family Starts Weaken in June as Affordability Challenges PersistSingle-family housing starts declined in June to the lowest rate since July 2024 as elevated interest rates, rising inventories and ongoing supply-side issues continue to act as headwinds for the housing sector.
Jul 17, 2025
Builder Confidence Edges Up in JulyBuilder confidence for future sales expectations received a slight boost in July with the extension of the 2017 tax cuts, but elevated interest rates and economic and policy uncertainty continue to act as headwinds for the housing sector.
Jul 16, 2025
Producer Prices for Metals and Equipment Show Large IncreasesResidential building material prices rose in June, driven primarily by higher construction machinery and equipment part prices. Metal commodities also experienced significant increases, following recently implemented tariffs on steel and aluminum. Meanwhile, price growth for services used in construction continues to outpace both domestic and imported goods.