Mortgage Rates Today, November 7, 2025
Rates Show Modest Movements Amid Market Uncertainty
Mortgage rates dipped slightly yesterday after several sharp fluctuations. Today’s economic updates could trigger another shift. The average 30-year fixed-rate mortgage sits at 6.32%, up 0.03% since Thursday. The 15-year fixed rate has reached 5.45%, also up 0.03%. The 30-year FHA mortgage now averages 5.59%, inching up by 0.01%, while the 30-year jumbo mortgage stands at 6.69%, slipping 0.03%.
Labor Market Signals Continued Weakness
Earlier this week, analysts highlighted alternative employment data sources due to the federal data blackout. Revelio Labs reported a drop of 9,100 U.S. jobs in October. Meanwhile, Challenger, Gray & Christmas revealed layoffs proceeding at their fastest rate since 2003, deepening concerns about economic stability.
“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 yesterday.
“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.”
Market Response
Investors reacted sharply to the discouraging job data, interpreting it as a sign of growing strain on the broader economy. These signals are likely to influence interest rate trends in the near term, with volatility expected to persist.
Author’s summary: Mortgage rates rose slightly as bleak private employment data and limited federal reporting deepened market uncertainty in early November 2025.