Mortgage Rates Today, Nov 3: Rates Firm After Jobs Data
Mortgage rates edged up Tuesday, ending a three-day run of monthlong lows, with stronger job openings data and a modest rise in Treasury yields.
FRANKLIN, Tenn., Nov. 3, 2026 — In today's Iron Hill Brief Daily Mortgage Market Update for Tuesday, November 3, 2026, mortgage rates moved slightly higher after three straight sessions at their lowest levels in more than a month.
The Mortgage News Daily index put the average 30-year fixed rate at 7.30%, up 0.03 percentage points from Monday. Matthew Graham of Mortgage News Daily wrote that apart from the past three days, Tuesday's level would still have been the lowest in more than a month, and that a move of that size falls in the "incidental" category.
Jobs Data Outweighs Oil
Bonds started the day on firmer footing. Graham wrote that bonds rallied back to unchanged in the 8 a.m. hour on Iran-related headlines, including reports that Iranian officials floated possible concessions in exchange for sanctions relief, and oil prices fell.
That early help faded. Graham said oil reversed course fairly quickly, and bonds took a bigger hit from the Labor Department's job openings report for September, which came in at a four-month high and well above expectations. Stronger labor data tends to put upward pressure on rates. Tech stocks also edged higher, and Graham noted that weakness in the tech sector has been a key factor behind lower rates in recent weeks.
Yields Tick Higher
Treasury data show the 10-year yield rose to 4.95% on Tuesday from 4.91% on Monday, while the 2-year yield climbed to 4.61% from 4.59%. Mortgage rates tend to follow the 10-year closely, and the modest rise in yields lined up with the small uptick in rates.
Homeowners weighing whether a lower rate would be worth the closing costs can use the refinance break-even calculator to compare scenarios. Markets will watch whether the recent lows can hold as more economic data arrives this week.
Sources
- Mortgage News Daily — Mortgage Rates Move Slightly Higher After Stronger Econ Data (Nov 3, 2026)
- Mortgage News Daily — Early Strength Thwarted by Data and Resilience in Equities (Nov 3, 2026)
- Mortgage News Daily — Just a Bit More Evidence For War Headlines and Oil Prices Helping Bonds (Nov 3, 2026)
- U.S. Treasury — Daily Treasury Par Yield Curve Rates (Nov 2–3, 2026)