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Friday, November 6, 2026 · Source: Optimal Blue OBMMI™
Mortgage rates fell broadly on Friday, delivering some of the best news for homebuyers in weeks. The 30-year conforming rate dropped to 7.09% — breaking below the 7.10% threshold for the first time in recent memory — while jumbo loans fell sharply as well, cooling off after a volatile week of outsized moves.
Every loan type tracked by Optimal Blue moved lower today, a rare clean sweep that signals genuine easing pressure across the mortgage market.
Today’s Mortgage Rates — November 6, 2026
- 30-Year Fixed Conforming: 7.09% ▼0.03
- 30-Year Fixed Jumbo: 7.25% ▼0.17
- 30-Year FHA: 6.89% ▼0.01
- 30-Year VA: 6.71% ▼0.05
- 30-Year USDA: 6.86% ▼0.18
- 15-Year Fixed: 6.41% ▼0.16
All data sourced from the Optimal Blue Mortgage Market Indices (OBMMI™), which tracks real locked-loan pricing across thousands of daily transactions — not survey estimates.
Jumbo Rates Finally Cool Off
After surging more than 30 basis points over the past two weeks, jumbo loans finally gave some of that back on Friday — dropping 17 basis points to 7.25%. That’s still elevated compared to where jumbo was trading in October, but it’s a meaningful step in the right direction for buyers financing above the conforming loan limit of $806,500.
The jumbo-to-conforming spread has narrowed back to 16 basis points, down from the 30-basis-point gap seen earlier this week. If this trend continues into next week, jumbo borrowers could be looking at much more competitive pricing heading into the holiday season.
USDA and 15-Year Lead the Declines
Two of the biggest movers today were USDA and the 15-year fixed — both dropping over 16 basis points. USDA loans fell to 6.86%, making zero-down homeownership in eligible rural and suburban areas significantly more affordable than it was just 48 hours ago.
The 15-year fixed dropped to 6.41% — its lowest level in recent weeks. For buyers who can swing the higher monthly payment, the 15-year continues to be a compelling option: less interest paid over time, faster equity building, and now a rate that’s nearly 70 basis points below the 30-year conforming.
What’s Behind Today’s Move?
Friday rate drops often correlate with jobs data and bond market activity heading into the weekend. When the bond market rallies — meaning yields fall — mortgage rates tend to follow. Today’s broad-based decline suggests the market is pricing in a more favorable rate environment, at least in the short term.
VA loans remain the best deal on the board at 6.71%, and FHA at 6.89% keeps low-down-payment buying within reach for first-time buyers who have been sidelined by elevated rates.
What to Watch
A single day of declines doesn’t make a trend, but today’s move is encouraging. If rates continue drifting lower into next week, buyers who have been waiting on the sidelines may want to start getting pre-approved. Rate locks taken at today’s levels could look very smart if volatility returns.
Rates are averages of locked loans and are not an offer to lend. Individual rates vary by credit, loan-to-value and lender. TodaysMortgage.us is not a lender. Data: Optimal Blue OBMMI™.