Freddie Mac Mortgage Rates—Nov. 6, 2025
Mortgage rates rose to 6.22% in response to Chair Jerome Powell’s comments after last week’s Fed meeting.
What happened to mortgage rates this week
The 30-year fixed mortgage rate climbed 5 basis points to 6.22% this week as the market adjusted expectations following Fed Chair Jerome Powell’s comments at the latest FOMC meeting. Powell emphasized that a December rate cut is not guaranteed, and markets reacted accordingly, pushing the 10-year Treasury yield higher. Nevertheless, mortgage rates remain well below recent highs, offering slightly improved affordability for buyers hoping to secure a home before year-end.
What it means for the housing market
In October, home shoppers in the South and West benefited from easing home prices, lower mortgage rates, and ample for-sale inventory, while those in the Midwest and Northeast saw less notable signs of recovery. Nationally, homes are still taking about two months to sell, signaling that recent rate relief hasn’t yet been enough to motivate hesitant buyers. Inventory growth continues to support buyers, but a slower pace of new listings suggests many homeowners remain reluctant to move, likely due to the mortgage rate “lock-in” effect.
Despite the positive undercurrent of lower rates, uncertainty persists. The recent government shutdown has weighed on buyer sentiment, particularly in federal-heavy markets and metros tied closely to public-sector employment. As the housing market moves into late fall, both buyers and sellers often turn their focus to the holidays and postpone major decisions until the new year. Still, motivated buyers may find a genuine window of opportunity in the coming weeks, with lower prices, more inventory, and improved rates creating favorable conditions. Eager sellers, meanwhile, should price strategically for the season and be prepared to negotiate in markets with abundant supply.
