Mortgage Rates Today, November 7, 2025
Mortgage rates fell yesterday after fluctuating several times. Today, the average 30-year fixed mortgage rate is 6.32%, a slight increase of 0.03% from 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 0.01%. Meanwhile, the 30-year jumbo mortgage rate decreased by 0.03% to 6.69%.
Recent Employment Data Influences Market Sentiment
On Wednesday, various alternative employment data sources were noted. One, Revelio Labs, reported a drop of 9,100 jobs in October across the U.S. Another, Challenger, Gray & Christmas, revealed layoffs occurring at the fastest rate since 2003. These data points have raised concerns about the health of the labor market.
"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's article.
The latest update from Challenger, Gray & Christmas showed U.S.-based employers announced 153,074 job cuts recently, echoing the troubling trend in employment.
Summary
Mortgage rates show minor shifts amid growing investor unease over the labor market, fueled by limited official data and troubling private employment reports.