Mortgage rates eased again the week of November 6, 2026, and the 30-year fixed reached its lowest level since September 22. The October jobs report on November 6 came in much stronger than expected, but rates held steady anyway. Nationally, new home sales slipped in September and home prices are still rising slowly. Here's what changed and what it means if you're thinking about buying, selling or refinancing in Columbus.
Where Mortgage Rates Are
Average rates as of November 6, 2026, per MortgageNewsDaily:
30-year fixed: 7.17% (unchanged from the day before)
15-year fixed: 6.83% (up 0.03)
30-year FHA: 6.82% (up 0.02)
30-year VA: 6.84% (up 0.02)
7/6 adjustable: 6.50% (down 0.16)
30-year jumbo: 7.38% (up 0.01)
These are national averages. Your actual rate depends on your credit, down payment and loan type.
What moved rates: Tech stocks sold off on November 5 and money moved into bonds, which pushed the 30-year fixed under 7.2%. The November 6 jobs report would normally push rates up, but bonds shrugged it off and rates held at the November 5 level. The 10-year Treasury was around 4.85% on November 6, down from just under 5% on October 29.
What that means in dollars: On a $267,400 loan (the Columbus median price with 20% down), going from the October 29 rate of 7.29% to 7.17% saves about $22 a month. That's real money, but not enough on its own to change anyone's plans. Compared with this year's high of 7.61%, the November 6 rate is about $80 a month lower.
Why a strong jobs report didn't move rates: Usually a big jobs number pushes rates up, because a hot economy makes the Fed less likely to cut. This time the bond market was more focused on inflation and on the drop in tech stocks. The Fed has said inflation is its main concern right now, so the November 10 inflation report (CPI) matters more for rates than the jobs report did. The Fed's next decision is December 9, per the Federal Reserve calendar.
The National Housing Market
Employers added 165,000 jobs in October, far more than expected, and August and September were revised up by a combined 84,000. Unemployment was 4.1%, and average pay is up 3.1% from a year ago, per the Bureau of Labor Statistics. Steady jobs and pay help buyers qualify, but a strong job market also gives the Fed less reason to cut.
New home sales ran at a 676,000 annual pace in September, down 0.6% from August and 5.3% from a year ago (Census data via FRED). There's 8.4 months of new home supply on the market. The median new home price was $400,400, 3.9% below a year ago (via MortgageNewsDaily). Builders have plenty of homes to sell, which lines up with the price cuts and incentives builders reported in October.
The S&P Cotality Case-Shiller index showed national home prices up 2.1% from a year ago in August, a little faster than July's pace (S&P Cotality Case-Shiller via FRED). Prices are still rising nationally, just slowly.
The Central Ohio Housing Market
The October Columbus REALTORS report comes out mid-November, and I'll break it down then. For the latest monthly numbers by county and school district, see my Central Ohio Housing Market Report.
What This Means for Your Timing
If you're buying: Rates drifted down about a tenth of a point between October 22 and November 6. On a typical Columbus purchase, that's about $22 a month. It's a nice tailwind, not a reason to rush. With 8.4 months of new home supply nationally, new construction buyers have room to negotiate on price and incentives. More on buying in Columbus.
If you're selling: Nothing in this week's national news changes the picture for sellers. More on selling, or get an instant home estimate.
What to Watch Next
November 10: October consumer prices (CPI)
Mid-November: Columbus REALTORS October housing report
November 25: Updated third-quarter economic growth (GDP) and October inflation (PCE)
December 4: November jobs report
If you're weighing a move and want to see what these numbers mean for your neighborhood or price range, let's talk.
Rate data from MortgageNewsDaily.com. Jobs data from the Bureau of Labor Statistics. New home sales from the Census Bureau via FRED, with the median price as reported by MortgageNewsDaily. Home prices from the S&P Cotality Case-Shiller U.S. National Home Price Index via FRED. Information is believed accurate but not guaranteed.