Mortgage Rates Ease Today: A Small Dip and a Big Planning Question for Houston Buyers and Sellers
Mortgage rates eased for the third week in a row. Freddie Mac’s Primary Mortgage Market Survey, released today, November 5, 2026, shows the average 30-year fixed rate at 7.18%, down from 7.24% last week. The 15-year fixed rate fell to 6.57% from 6.60%. Rates are still almost a full point higher than they were a year ago, when the 30-year averaged 6.22%, and this is the seventh straight week above 7%. On a $400,000 loan, this week’s dip saves about $16 a month in principal and interest compared with last week.
What Buyers Are Doing
So far, buyers aren’t rushing back in. The Mortgage Bankers Association reported that purchase applications fell 2% last week and were running 19% below a year ago, even as rates eased. Many buyers are watching from the sidelines, waiting to see whether this is a real trend or a short pause. Others are turning to adjustable-rate mortgages for a lower starting payment, and ARMs now make up their largest share of applications since September 2025.
Shop Lenders, Not Just Homes
If you’re planning to buy, shop for your lender as carefully as you shop for your home. Rates and fees can vary a lot from one lender to the next on the same day. Freddie Mac’s research has found that buyers can save $600 to $1,200 a year by getting quotes from several lenders. Compare the full Loan Estimate, not just the rate. Ask about points, closing costs, and how long each lender will lock your rate, and ask whether a seller-paid rate buydown could lower your payment more than waiting for rates to fall.
What This Means for Houston-Area Buyers and Sellers
For Houston-area buyers and sellers, this is a planning moment more than a turning point. The Houston Association of Realtors reported 7,030 single-family home sales in September, down 5.7% from a year earlier, while the average price held steady at $421,311. In Sugar Land, Missouri City, Richmond, and Fulshear, that means buyers have more room to negotiate, and sellers who price to recent closed sales are still getting results. If you’re buying, get pre-approved now so you can act quickly if rates keep easing. If you’re selling, a rate dip can bring buyers back off the sidelines, so it’s a good time to get your home ready.
This post is educational information about the housing market, not financial advice. Please consult a licensed mortgage professional about your specific situation.
Cassandra Noien-Atme, REALTOR® | ONTX Realty Partners powered by Keller Williams
Call or text: 713-248-8798
www.CassandraNoien.com
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