Today’s Mortgage Rates, November 4: 30-Year Fixed Drops Below Last Week’s Rate

Wednesday's rate board is a little mixed, but the bigger picture still leans in your favor. On Wednesday, November 4, 2026, Zillow's average 30-year fixed purchase rate is 7.10%, up 3 basis points from Tuesday but still 4 basis points below where it sat a week ago. The 15-year fixed eased to 6.41%, which is 16 basis points lower than last Wednesday, and refinance rates are also cheaper than they were last week.

So yes, the 30-year ticked up a hair today. But one small bump doesn't erase a week of progress. In this update, I'll walk you through the full table, what the uptick really costs you, and how to think about locking a rate right now.

Zillow Purchase Rates for Wednesday, November 4, 2026

Here are today's national averages, according to Zillow rates reported by Yahoo Finance:

Loan Type	Rate (Nov 4)
30-year fixed	7.10%
20-year fixed	6.68%
15-year fixed	6.41%
5/1 ARM	6.80%
7/1 ARM	6.69%
30-year VA	6.46%
15-year VA	5.94%
5/1 VA	6.16%

Source: Zillow via Yahoo Finance. Rates as of November 4, 2026.

Curious what 7.10% means for your budget? Try our free calculator further down.

Here's the quick read on today's numbers:

• The 30-year fixed rose slightly. It's up 3 basis points from Tuesday's 7.07%, yet it's still 4 basis points lower than last week.
• The 15-year fixed keeps sliding. At 6.41%, it's down 16 basis points from last Wednesday.
• The 5/1 ARM is well below last week. It sits at 6.80%, a 31 basis point drop from the week before.
• Refinance rates are lower week over week. Zillow's 30-year, 15-year and 5/1 ARM refinance averages are down 2, 14 and 20 basis points from last week.

Quick refresher: a basis point is one hundredth of a percentage point. So a 3 basis point move takes a rate from 7.07% to 7.10%. That's a tiny change, and it's worth keeping in perspective.

How Much Does a 3 Basis Point Uptick Really Cost?

Let's put real dollars on it. On a $400,000 loan, principal and interest at 7.10% come to about $2,688 a month. At Tuesday's 7.07%, the same loan was about $2,680.

That's roughly $8 more a month. Think of it as one fancy coffee. It's real money, but it's not the kind of change that should push you to rush or panic.

Now look back one week. Last Wednesday's 30-year average was 7.14%, which put that same payment near $2,699. Even after today's bump, you're still paying about $11 less a month than a buyer who locked a week ago. When rates wiggle day to day, the weekly view usually tells a more honest story.

Why Daily Rates Bounce Around

Mortgage rates don't move in a straight line. Lenders adjust their pricing almost every day based on the bond market, especially the yield on the 10-year Treasury. When investors feel nervous or hopeful about the economy, those yields shift, and mortgage rates follow along.

That's why you'll often see a step down, then a small step up, then another step down. It's a bit like walking a dog that keeps stopping to sniff. The direction over a week or a month matters more than any single stop along the way.

Right now, the weekly direction is down for nearly every major loan type Zillow tracks. That's the part I'd pay attention to.

The 15-Year Fixed Is Having a Good Week

The 15-year fixed at 6.41% is quietly one of the best stories in today's data. It's down 16 basis points from last Wednesday, a much bigger weekly move than the 30-year.

On a $400,000 loan, the 15-year payment is about $3,465 a month. That's about $777 more than the 30-year fixed, so it isn't for every budget. But the long-term savings are huge. Over the full loan, you'd pay roughly $224,000 in interest on the 15-year, compared with about $568,000 on the 30-year at 7.10%. That's a gap of around $344,000.

If you can comfortably afford the higher payment, the 15-year lets you own your home free and clear in half the time.

Sample Payments on a $400,000 Loan at Today's Rates

These Norada estimates include principal and interest only. Property taxes, homeowners insurance and any mortgage insurance would come on top.

Loan Type	Today's Rate	Monthly Payment
30-year fixed	7.10%	$2,688
20-year fixed	6.68%	$3,025
15-year fixed	6.41%	$3,465
5/1 ARM	6.80%	$2,608 (first five years)
7/1 ARM	6.69%	$2,578 (first seven years)
30-year VA	6.46%	$2,518

Payment figures are Norada estimates.

A Middle Ground: The 20-Year Fixed

Not everyone wants to choose between the lowest payment and the fastest payoff. The 20-year fixed at 6.68% sits right in between. Its payment of about $3,025 is roughly $337 more than the 30-year, but you would be mortgage-free 10 years sooner and save a big chunk of interest along the way. It's worth asking your lender to quote one side by side.

VA Loans Remain the Low-Rate Leader

If you've served, VA loans continue to offer the best pricing on the board. The 30-year VA is 6.46%, which is 64 basis points below the conventional 30-year fixed. On $400,000, that's about $170 less per month.

The 15-year VA, at 5.94%, is the only rate in today's table below 6%. VA loans usually need no down payment and no monthly mortgage insurance, so the savings can be even bigger than the rate alone suggests. Shop a few VA lenders, because pricing can vary quite a bit.

What Homeowners Should Know About Refinancing

Refinance rates also came in lower than last week. Zillow's 30-year refinance average is down 2 basis points, the 15-year is down 14 and the 5/1 ARM is down 20 compared with a week ago.

A refinance only pays off if you stay in the home long enough to recover the closing costs. Here's a simple test: divide your total closing costs by how much you'd save each month. The answer is your break-even point in months. If you plan to stay well past that point, it may be worth a closer look.

Should You Lock or Float Today?

This is the question I hear most on days like this. Here's how I'd think about it.

Lean toward locking if:

• You're closing within the next few weeks.
• Today's payment already fits your budget comfortably.
• A small rise would make you lose sleep.

Floating might make sense if:

• Your closing date is still more than a month away.
• You can handle the payment even if rates tick up a bit.
• Your lender offers a float-down option at a fair cost.

Nobody can call daily moves with certainty. A lock gives you peace of mind, and that has real value.

A Few Smart Moves Before You Apply

• Get quotes from at least three lenders on the same day. That's the only fair way to compare.
• Look past the rate. Check points, origination fees and the APR on each Loan Estimate.
• Keep your credit steady. Skip new credit cards or big purchases until after closing.
• Think about how long you'll stay. That one answer helps decide between a fixed loan and an ARM.

My Take for Wednesday, November 4

Today's 3 basis point rise in the 30-year fixed is a small step back, not a change in direction. Rates for purchase and refinance loans are still lower than they were last week, and the 15-year fixed and 5/1 ARM have made solid weekly gains. If you've found the right home, today's rates are no reason to hold back. And if rates drift lower later, you can always look at refinancing.

These figures reflect Zillow's national averages for Wednesday, November 4, 2026, as reported by Yahoo Finance. Your own rate will depend on your credit score, down payment, loan size and lender, so get personalized quotes before you decide.