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
Codes and Standards
Oct 28, 2026
What a Building Code Study Gets Wrong About Housing Affordability
A working paper from researchers at the University of Alabama concludes that when a jurisdiction adopts new residential building codes, it has no effect on the sales prices of homes. But a close technical review reveals that the study’s policy conclusions go well beyond what its analysis can establish.
Legal
Oct 27, 2026
Legal Action Committee Awards Nearly $100,000 in Legal Support Grants at FLM
At its recent meeting during the NAHB Fall Leadership Meetings, the NAHB Legal Action Committee reviewed seven requests for Legal Action Fund assistance and recommended assistance in six.
Latest Economic News
Economics
Oct 28, 2026
Homeownership Rate Rises to 65.5%
The latest homeownership rate reached 65.5% in the third quarter of 2026, according to the Census’s Housing Vacancy Survey (HVS). While this was a modest quarterly decrease, the broader picture continues to reflect significant affordability challenges.
Economics
Oct 28, 2026
Fed Holds Rates, With Two Votes for Another Hike
The Federal Reserve maintained the federal funds rate at a target range of 3.75% to 4% at the conclusion of its October policy meeting. Approved by a 10–2 vote, the decision followed September’s quarter-point increase. Federal Open Market Committee members Lisa Cook and Beth Hammack dissented, supporting another 25-basis-point increase for October.
Economics
Oct 27, 2026
Affordability Challenges Push New Home Sales Lower
High mortgage rates and economic uncertainty continued to keep potential home buyers on the sidelines and constrain new home sales in September. New home sales declined from August and remained below year-ago levels, with year-to-date sales also lagging for 2025.