The U.S. average 30-year mortgage rate was 7.11% on November 12, 2026. Here is what that figure measures and what a change in the rate does to a monthly payment.
- What it does to a payment
- $100,000
Quoted from this guide, where each figure is sourced. As of Nov 12, 2026.
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The average rate on a 30-year fixed home loan in the U.S. was 7.11% on November 12, 2026, according to Freddie Mac. This post explains what that number is, what it does to a monthly payment, and the other national figures you may be seeing in the news. We are real estate brokers, not lenders, so for your own rate you will want to talk with a lender.
What the number measures
Each Thursday, Freddie Mac publishes the average rate lenders across the country are quoting on a 30-year fixed loan. It is a national average. Your own rate depends on your credit, your down payment and the type of loan, and it can be higher or lower.
Recent readings from Freddie Mac:
- November 12, 2026: 7.11%, down from 7.18% the week before.
- October 8 and October 15, 2026: 7.40%, the recent high.
- One year earlier: 6.24%.
So the rate has come down for four weeks in a row, and it is still almost a point higher than a year ago.
What it does to a payment
On a 30-year fixed loan, each $100,000 borrowed costs about this much a month for the loan itself (principal and interest), before property taxes and insurance:
- At 7.11%: about $673.
- At 7.40%: about $692.
- At 6.24%: about $615.
On a $500,000 loan, that is about $3,364 a month at 7.11% and about $3,075 at 6.24%, a difference of about $289 a month. This is standard loan math, and a lender can run it for your own numbers.
What the Federal Reserve did
On October 28, 2026, the Federal Reserve left its own rate unchanged at 3.75% to 4.00%. The Fed does not set mortgage rates. Mortgage rates are set by lenders and the bond market, and they often move on their own.
The national picture
Two other reports give some context. Both are national, not local.
- Home sales: The National Association of Realtors reported that sales of existing homes in September 2026 were up 1.5% from August and down 2.2% from a year earlier. The national middle price was $417,500, up 1.3% from a year earlier. The number of homes for sale was 1.60 million, up 4.6% from a year earlier.
- Building: The U.S. Census Bureau and HUD reported that building permits in September 2026 were running at a yearly pace of 1,400,000 homes, and construction starts at a yearly pace of 1,221,000.
What this means in Bend
The rate affects what a buyer can afford each month, and that affects what buyers can offer. It is one factor among several. Local prices also depend on how many homes are for sale here and who is looking.
Nobody can reliably predict where rates go next, and we will not try. If the monthly payment works for you today, that is the number to plan around. If it does not, waiting is a reasonable choice too.
You can see the current local figures on the Bend market report, or see the homes for sale in Bend. If you have a question about buying or selling here, talk with a broker or call 541.703.3095.
Questions
Should I wait for rates to drop?
We cannot tell you where rates are going, and anyone who says they can is guessing. A lender can show you what your payment would be at today's rate so you can decide with real numbers.
Where did these figures come from?
Freddie Mac's weekly mortgage survey for November 12, 2026. The Federal Reserve statement of October 28, 2026. The National Association of Realtors report released October 13, 2026. The Census Bureau and HUD report released October 20, 2026. We read each on November 12, 2026.
Matt RyanOwner & Principal Broker at Ryan Realty.
