The elections are over, and big changes are taking place in Washington.  Here’s a quick market update for the week of November 9, 2026. Mortgage rates have improved over the past few weeks, but inflation remains a concern. This week’s inflation reports could tell us whether that improvement will continue. The 10-year Treasury closed Friday at 4.86%, down from 4.94% the previous Friday, and is currently at 4.849%. Mortgage rates have also improved for three straight weeks, with the national 30-year fixed average dropping to 7.18%, compared to 7.24% the previous week.

Inflation remains one of the biggest obstacles to lower rates. Higher inflation generally pushes Treasury yields and mortgage rates up. The good news is that the bond market has been moving in the right direction. Hopefully this week’s inflation reports will keep that momentum going.

What to Expect This Week

There are several reports worth watching:

• Monday (11/9): Consumer Inflation Expectations — Shows where consumers think inflation is headed.
• Tuesday (11/10): CPI Inflation Report — The biggest report of the week. It measures changes in consumer prices.
• Tuesday (11/10): 10-Year Treasury Auction — Strong demand for Treasury bonds could help keep yields down.
• Thursday (11/12): Weekly Jobless Claims and Existing Home Sales.
• Friday (11/13): PPI Inflation Report — Measures inflation at the wholesale level.

Tuesday and Friday are the big days. If inflation comes in lower than expected, mortgage rates could improve again. Higher inflation could quickly reverse some of the recent gains.

30-Year Fixed Rate Snapshot

The 10-year Treasury closed Friday at 4.86%, while Freddie Mac’s latest national average for a 30-year fixed mortgage is 7.18%. The 15-year fixed average is 6.57%. Actual rates will vary depending on credit, loan size, down payment, occupancy, and points. Another issue worth watching is the national debt, which has surpassed $40 trillion. In the short term, the government continues to sell large amounts of Treasury bonds to cover its borrowing needs. When more bonds enter the market, investors may demand higher yields, which can push mortgage rates higher. Over the longer term, continued government deficits add to the debt and increase interest costs. This could keep Treasury yields and mortgage rates higher than they would otherwise be, even if the Fed lowers short-term rates. Remember, Fed rate cuts don’t automatically mean lower mortgage rates.

Lock Now or Wait?

If you are closing in the next 2–3 weeks: I would lean toward locking. We’ve had several weeks of improvement, and this week’s inflation reports could easily (and quickly) reverse some of those gains. 30–60 days out: There may be some room to wait. If inflation continues to cool, we could see another opportunity for lower rates. I would still be ready to lock if the market improves.

Something to consider – Reverse Mortgages for Purchase

Reverse mortgages aren’t just for homeowners who want to access equity in their current homes. They can also be used to buy a new home, which many buyers and real estate agents aren’t aware of. With an FHA-insured reverse mortgage for purchase, buyers age 62 and older can make a down payment and finance the remaining eligible purchase amount without required monthly principal and interest payments. Buyers must continue paying property taxes, homeowners’ insurance, and maintaining the property. The required down payment depends on the buyer’s age, interest rates, and property value. There are also jumbo reverse mortgage programs available for higher-priced homes, with some offering different age requirements and down payment options. All programs have specific financial qualification requirements, and the loan balance generally grows over time if you don’t make payments. This can be a great option for retirees who want to downsize, move closer to family, or purchase a home that better fits their lifestyle without taking on a traditional monthly mortgage payment. It may also allow them to keep more of their savings available for retirement.