Mortgage Rates Today, Nov 6: Hold Steady After Jobs

FRANKLIN, Tenn., Nov. 6, 2026 — In today's Iron Hill Brief Daily Mortgage Market Update for Friday, November 6, 2026, mortgage rates held steady at recent lows even as a much stronger jobs report would normally have pushed them higher.

The Mortgage News Daily index put the average top-tier 30-year fixed rate at 7.17% on Friday, unchanged from 7.17% on Thursday and still the lowest since September 22. Matthew Graham of Mortgage News Daily wrote that the average lender was right in line with yesterday's levels despite nonfarm payrolls crushing expectations.

For Tennessee buyers shopping a purchase loan, that national average is a useful benchmark—not a quote from Iron Hill Mortgage or a rate you can lock today. For Middle Tennessee homeowners, a refinance comparison also depends on closing costs and the time needed for any savings to offset them; the refinance break-even calculator illustrates that calculation.

Jobs Surge, Rates Hold Flat

Graham wrote that the monthly jobs report is usually one of the most reliable sources of volatility for rates, and that stronger-than-expected job growth typically lifts rates. Friday's payroll count came in well above forecasts, yet rates held flat—a result Graham said no one would have predicted knowing the numbers ahead of time.

Mortgage News Daily's afternoon recap called it a very strong showing for bonds given the headwinds. Nonfarm payrolls printed 165,000 versus a 65,000 forecast (prior 29,000), the unemployment rate fell to 4.1% from 4.2%, and the participation rate edged up to 61.9%. After an initial knee-jerk selloff, yields returned near pre-report levels within minutes. Graham pointed to the Fed's inflation-side mandate focus, tech-sector cues, and markets still digesting this week's election results as context—not a clean prediction of today's tape.

Yields Tick Higher

Treasury data show the 10-year yield rose to 4.86% on Friday from 4.84% on Thursday, while the 2-year yield climbed to 4.51% from 4.46%. Friday's lender average stayed flat even as Treasury yields edged up.

The daily mortgage-rate index and Treasury yields measure different markets; Friday's figures did not move in lockstep.

Frequently asked questions

Are mortgage rates going down?

On Friday, November 6, 2026, the Mortgage News Daily average for top-tier 30-year fixed loans held at 7.17%—unchanged from Thursday and still the lowest since September 22. A single flat session does not establish a future rate trend.

What is today's 30-year mortgage rate for Tennessee buyers?

There is no single Tennessee rate. Mortgage News Daily's national average for top-tier 30-year fixed loans was 7.17% on November 6, 2026. The national index is not a personalized loan offer or a quote from Iron Hill Mortgage.

What does a move of 0 basis points mean for a payment?

Zero basis points means the Mortgage News Daily average did not change from Thursday's 7.17% (a flat session even as the 10-year Treasury yield rose 2 basis points). That is a change in an index, not a change to an existing loan payment. A monthly payment calculator illustrates principal and interest for a specified loan amount, rate and term; it is not a payment quote from Iron Hill Mortgage.

Sources

• Mortgage News Daily — Mortgage Rates Hold Steady at Lows Despite Stronger Jobs Report (Nov 6, 2026)
• Mortgage News Daily — Very Strong Showing For Bonds Considering The Headwinds (Nov 6, 2026)
• Mortgage News Daily — Super Strong Jobs Report NOT Hitting Bonds Like You'd Expect (Nov 6, 2026)
• Mortgage News Daily — Another Decent Drop as Mortgage Rates Move Under 7.2% (Nov 5, 2026)
• U.S. Treasury — Daily Treasury Par Yield Curve Rates (Nov 5–6, 2026)