Market Brief

Mortgage News Daily's 30-year fixed index jumped to 7.42 percent on November 12, the same day Freddie Mac's weekly average fell to 7.11 percent, and producer prices rose 6.5 percent over the year to October.

By Jon Brooks, Co-Founder, Momentum Realty · Updated November 13, 2026

The daily 30-year index rose to 7.42% on November 12 as bonds sold off; Freddie Mac's 7.11% weekly figure predates the move.

Mortgage News Daily's 30-year fixed index rose 0.12 point to 7.42 percent on Thursday, November 12, after a sharp bond market selloff, and its 15-year index rose 0.08 point to 7.00 percent. On the same day Freddie Mac reported a weekly 30-year average of 7.11 percent, down from 7.18 percent. The two figures measure different things: Freddie Mac's survey reflects loan applications earlier in the week, before Thursday's move. On Friday, November 13, the Bureau of Labor Statistics reported that the Producer Price Index for final demand rose 0.3 percent in October and 6.5 percent over 12 months, the largest 12-month rise since November 2022. On a $415,000 Florida home with 20 percent down, the gap between 7.11 and 7.42 percent is about $70 a month in principal and interest.

Why did mortgage rates go up on November 12?

Mortgage rates follow the price of mortgage-backed bonds, and those bonds sold off on Thursday. Matthew Graham of Mortgage News Daily listed the day's headlines as President Trump's comment that the United States does not need a deal with Iran, a stronger stock market, news from Nvidia, and a round of hawkish comments from Federal Reserve officials. He wrote that the selling lined up with a shift in rate expectations for mid-2027 and with follow-through from Tuesday's consumer price report, and that a bond rally built on a flight to safety from technology stocks appeared to have run out of steam.

Mortgage News Daily's index had been 7.30 percent on November 10, after the October consumer price report, and Wednesday was the Veterans Day holiday. Its 52-week range runs from 5.99 percent to 7.61 percent, so Thursday's 7.42 percent sits near the top of the past year.

The 10-year Treasury yield, the benchmark mortgage rates track most closely, was about 5.15 percent on Friday morning, according to Trading Economics, which put the week's rise at about 30 basis points. Mortgage News Daily's quote page showed 5.125 percent at Thursday's close.

Why does Freddie Mac show rates falling while daily rates rose?

Freddie Mac's Primary Mortgage Market Survey is a weekly average drawn from applications lenders submit to Freddie Mac, mostly from earlier in the week, and it is published Thursday at noon ET. The week ending November 12 average of 7.11 percent was the fourth weekly decline in a row, covered in our November 12 mortgage rates article. Mortgage News Daily's index is a daily reading of lender rate sheets and moved after Freddie Mac's survey window closed.

Both figures are correct for what they measure. A buyer locking a rate on Friday should expect quotes closer to the daily index than to Thursday's weekly average.

What did the October producer price report show?

The Bureau of Labor Statistics said the Producer Price Index for final demand rose 0.3 percent in October, seasonally adjusted, after 1.4 percent in September and 0.4 percent in August. Final demand goods rose 0.5 percent and final demand services 0.2 percent. Prices for final demand less foods, energy and trade services rose 0.5 percent in October and 4.9 percent over 12 months.

On an unadjusted basis, final demand prices rose 6.5 percent in the 12 months ended in October. Producer prices measure what businesses receive, so they feed into building material and construction costs that home builders pass on. The October consumer price report, covered in our CPI article, showed all items up 0.4 percent and shelter up 0.3 percent for the month, with no 12-month change published.

What does a 7.42 percent rate mean for a Florida buyer?

Florida Realtors put the statewide single-family median sale price at $415,000 in September, covered in our September Florida housing market article. With 20 percent down, that is a $332,000 loan. Monthly principal and interest on a 30-year fixed loan works out to:

The payments are desk calculations and exclude taxes, insurance, HOA fees and mortgage insurance. The step from 7.11 to 7.42 percent adds about $70 a month, or about $840 a year. Compared with the 6.24 percent average a year earlier, the 7.42 percent payment is about $261 a month higher. Property tax and insurance can add hundreds more a month in Florida; our Florida house payment by county guide and home affordability calculator show the full payment.

How does this affect Florida home sales this fall?

Higher rates arrive as sales are already slow. The National Association of Realtors reported October existing-home sales at a 3.75 million annual pace, down 5.5 percent from September, covered in our existing-home sales article. In Florida, single-family closed sales fell 3.5 percent in September while the median held at $415,000 and months of supply fell to 4.4.

For sellers, a jump in rates usually shows up first in fewer showings and offers rather than in closed prices, because contracts signed weeks ago are still closing. For buyers already under contract, the practical question is whether the rate is locked and when the lock expires.

What housing data comes next?

Florida Realtors posts October statewide and metro housing data on Monday, November 16. NAHB's builder confidence index follows Tuesday, November 17, at 10:00 a.m. ET. On Wednesday, November 18, the Census Bureau releases October housing starts and building permits, the National Association of Realtors releases its Pending Home Sales Index, and the Federal Reserve publishes minutes of its October meeting at 2:00 p.m. ET. Freddie Mac's next weekly rate survey posts Thursday, November 19, at noon ET. The Fed's next policy meeting ends December 9. The Florida news hub collects each release as it posts.

People also ask

What is the average 30-year mortgage rate today?

Mortgage News Daily's 30-year fixed index was 7.42 percent on November 12, 2026. Freddie Mac's weekly average for the week ending November 12 was 7.11 percent; it reflects applications from earlier in the week.

Why are mortgage rates going up?

Mortgage-backed bonds sold off on November 12 after hawkish comments from Federal Reserve officials and follow-through from the October consumer price report, according to Mortgage News Daily. The 10-year Treasury yield was about 5.15 percent on November 13.

What was the October 2026 producer price index?

The Producer Price Index for final demand rose 0.3 percent in October 2026 and 6.5 percent over 12 months, the largest 12-month rise since November 2022, according to the Bureau of Labor Statistics.

How much is a mortgage payment on a $415,000 Florida home?

With 20 percent down, principal and interest on a 30-year loan is about $2,303 a month at 7.42 percent and about $2,233 at 7.11 percent, before taxes and insurance.

Limitations

Mortgage News Daily and Freddie Mac measure rates differently: one is a daily index of lender rate sheets, the other a weekly average of applications, and neither is a quote for any borrower. Today's Mortgage News Daily update had not posted when this brief was written, so Friday's rate is not included. The 10-year yield figures come from Trading Economics and Mortgage News Daily's quote page, not from the Treasury's daily yield curve, and the two differ slightly. Payment figures are desk calculations on the September statewide median and exclude taxes, insurance and fees. Producer price changes are not consumer prices. No forecast is made.

Sources

Mortgage News Daily, 30-year and 15-year fixed indexes and "Why Did Bonds Sell Off So Sharply Today?" by Matthew Graham, November 12, 2026. Freddie Mac Primary Mortgage Market Survey, week ending November 12, 2026, freddiemac.com/pmms. U.S. Bureau of Labor Statistics, Producer Price Index, October 2026, released November 13, 2026, bls.gov/news.release/ppi.nr0.htm. Trading Economics, United States 10-year government bond yield, November 13, 2026. Florida Realtors, September 2026 Florida housing market report, October 16, 2026. National Association of Realtors, Existing-Home Sales, October 2026. Release dates from each publisher's schedule as recorded in our release calendar.

Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.