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
May 02, 2025
How to Diversify Your Remodeling Business for GrowthTo celebrate National Home Remodeling Month, NAHB will host two Shop Talks, sponsored by Westlake Royal Building Products, to help remodelers diversify their business and build greener.
May 02, 2025
Home Builders: How to Scale Your Projects to Sustain Profitable GrowthToo many builders still feel like they’re grinding. They build a few homes at a time, reinvest their profits, and hope the next project pays off a little more than the last. It doesn’t have to be that way. The builders who scale create lasting wealth. And the key to faster scaling is smarter financing.
Latest Economic News
May 01, 2025
Housing’s Share of the Economy Grows Higher to Start the YearHousing’s share of the economy grew to 16.4% in the first quarter of 2025, according to the advance estimate of GDP produced by the Bureau of Economic Analysis. This is the highest reading since the third quarter of 2022 and is up 0.2 percentage points from the fourth quarter of 2024.
Apr 30, 2025
U.S. Economy Contracted in First Quarter of 2025The U.S. economy contracted in the first quarter of 2025 for the first time in three years, driven by a sharp surge in pre-tariff imports, softening consumer spending, and a decline in government spending.
Apr 30, 2025
House Sharing is Not Just for Young AdultsA record-high 6.8 million households shared their housing with unrelated housemates, roommates or boarders in 2023. While college-age and young adults make up the largest subset of house sharers (close to 41%), this type of living arrangement is gaining popularity among older householders fastest, with the 55+ segment accounting for 30% of all house-sharing households in 2023.