Mortgage Rates Today, November 7, 2025
Mortgage rates fell yesterday after a series of fluctuations. Today, the average 30-year fixed mortgage rate is 6.32%, increasing slightly by 0.03% since yesterday. The 15-year fixed rate mortgage is at 5.45%, also up by 0.03%. The 30-year FHA mortgage averages 5.59%, rising by 0.01%. Meanwhile, the 30-year jumbo mortgage rate decreased by 0.03%, now at 6.69%.
Employment Data Impact
On Wednesday, several alternative employment data sources were highlighted. Revelio Labs reported that U.S. jobs decreased by 9,100 in October. Meanwhile, Challenger, Gray & Christmas revealed layoffs are occurring at the fastest rate since 2003. These reports have led markets to worry about the labor market's health.
"A near-blackout of official economic data caused by the ongoing U.S. government shutdown has sent investors searching for private offerings that might provide some clues about what is happening in the labor market," reported MarketWatch yesterday.
"On Thursday, investors found something to latch on to — and many apparently didn’t like what they saw," continued MarketWatch. "The latest report from Challenger, Gray & Christmas, a firm that publishes a monthly update on hiring and firing activity, showed U.S.-based employers announced 153,074 job..."
Summary
Today’s slight mortgage rate changes reflect ongoing market reactions to recent labor reports amid limited official economic data due to the U.S. government shutdown.
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