Mortgage Rates Today, November 7, 2025
Mortgage rates fell yesterday after several fluctuations. Today’s data may again shift the trend. The average 30-year fixed-rate mortgage stands at 6.32%, marking a 0.03% increase from the previous day.
The 15-year fixed-rate mortgage is currently at 5.45%, also rising by 0.03%. The 30-year FHA mortgage averages 5.59%, slightly higher by 0.01%. In contrast, the 30-year jumbo mortgage eased to 6.69%, reflecting a 0.03% decline.
Labor Market Data and Market Reaction
Recent indicators have heightened concern about labor conditions. Revelio Labs reported a drop of 9,100 jobs in October. Challenger, Gray & Christmas revealed that layoffs are occurring at their fastest pace since 2003, pushing markets to reconsider the state of the U.S. 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.
"On Thursday, investors found something to latch on to — and many apparently didn’t like what they saw," continued MarketWatch's article. "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 cuts."
Summary
Mortgage rates continue to oscillate as private employment data fuels fresh market concern during the U.S. government shutdown’s data gap.
Author’s Summary: Mortgage rates rise modestly amid sharp labor market signals and limited federal data, keeping investors uneasy about the short-term economic outlook.