# US Mortgage Rates Drop to 7.18% for Third Week

> US mortgage rates fall to 7.18% for third straight week, easing homebuyers' pressure.
- Title: US Mortgage Rates Drop to 7.18% for Third Week | Shortify
- Summary: US mortgage rates fall to 7.18% for third straight week, easing homebuyers' pressure.
- Keywords: us mortgage rates, 30 year mortgage rate, freddie mac, 10 year treasury yield, homebuyers, mortgage rates fall, The Economic Times
- Source: The Economic Times — https://economictimes.indiatimes.com/markets/us-stocks/news/the-average-us-30-year-mortgage-rate-falls-to-7-18-this-week-its-third-straight-decline-/articleshow/135585420.cms
- Author: AP
- Published: 2026-11-05T19:24:00+00:00
- Read time: 1 min
- Topics: us mortgage rates, 30 year mortgage rate, freddie mac, 10 year treasury yield, homebuyers, mortgage rates fall, money, business
## US Mortgage Rates Decline
The average 30-year fixed-rate mortgage rate fell to 7.18% from 7.24% last week, according to Freddie Mac.
## Third Consecutive Drop
This marks the third straight week mortgage rates have fallen, with the average rate dropping to 7.18% this week.
## Year-Over-Year Comparison
The average rate was 6.22% one year ago, showing a decline from last year's level.
## 15-Year Mortgage Rates Fall
Borrowing costs on 15-year fixed-rate mortgages also dropped to 6.57% from 6.60% last week.
## Year-Over-Year 15-Year Rate
The 15-year mortgage rate was 5.50% one year ago, indicating a steady decline trend.
## Factors Influencing Rates
Mortgage rates are affected by inflation, Federal Reserve policy, and bond-market expectations for the economy.
## 10-Year Treasury Yield Drops
The 10-year Treasury yield fell to 4.84%, its lowest level in nearly two months, on Thursday.
## Key takeaway

The average US 30-year mortgage rate dropped to 7.18% this week, its third consecutive decline from 7.24% last week.