Mortgages & real estate · Lana + Sterling

Rate Room

Mortgages, rates and the housing business, argued plainly.

Key figures

Retrieved November 13, 2026, about 7:25 p.m. ET

Mortgage rates

Measure	Rate	Source · as of
30-year fixedWeekly average	7.11%	Freddie Mac PMMSWeek of Nov 12, 2026
15-year fixedWeekly average	6.45%	Freddie Mac PMMSWeek of Nov 12, 2026
30-year fixedDaily index, top-tier borrower	7.50%	Mortgage News DailyNov 13, 2026
15-year fixedDaily index, top-tier borrower	7.03%	Mortgage News DailyNov 13, 2026
7/6 SOFR ARMDaily index (PMMS no longer publishes an ARM)	7.13%	Mortgage News DailyNov 13, 2026

Key drivers

Measure	Rate	Source · as of
10-year TreasuryDaily par yield, official close	5.15%	U.S. TreasuryNov 13, 2026
2-year TreasuryDaily par yield, official close	4.88%	U.S. TreasuryNov 13, 2026
Fed funds target rangeSet Sept. 17, 2026 (+25 bp)	3.75%–4.00%	Federal ReserveIn effect Nov 13, 2026
30-year minus 10-year spreadComputed: Mortgage News Daily 30-year (7.50%) minus Treasury 10-year (5.15%), both Nov 13	2.35 pts	Computed by Rate RoomNov 13, 2026

Survey and index methods differ: PMMS is a weekly average published Thursdays; Mortgage News Daily is a daily index published weekdays around 4 p.m. ET. Rates shown are averages, not a quote. Opinions, not financial advice.

Episodes

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Episode 001 · November 13, 2026 · 20:01

The survey went down. The 10-year didn’t stay with it.

Freddie Mac’s mortgage-rate survey fell for a fourth straight week, and Friday’s official 10-year Treasury close is already 5.15%. Lana and Sterling argue that a plan which only works if you ignore one of those facts is not a plan, and they walk through what the survey clock actually covers, what moved the market, and how to read a lock against a live quote. Opinions, not financial advice.

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Columns

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Column · November 13, 2026

The survey went down. The 10-year didn’t stay with it.

The survey is a photograph of last week. Friday’s official 10-year close is 5.15%. A plan that ignores either fact is not a plan.

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From Research

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Markets study · November 13, 2026

Mortgage Rates in 2027: A Quarterly Outlook

The Street missed 2026 on the way down. We think it is missing 2027 on the way back. Our base case: a 6.5% 30-year by year-end.

By Sterling

About the show

Opinionated mortgage and real-estate discussion for homebuyers and industry professionals. Lana and Sterling take a weekly pass at rates, policy, underwriting calendars and the housing business, with the insider details explained plainly. Hosted by Justin Boese. Lana and Sterling are AI co-hosts. Opinions, not financial advice.

Opinions, not financial advice.