Mortgage rates · week of November 5, 2026
Current mortgage rates in Minnesota
The average 30-year fixed mortgage rate was 7.18% and the 15-year 6.57% in Freddie Mac's survey for the week of November 5, 2026. A year earlier the 30-year averaged 6.23%. These are national averages; Minnesota rates generally follow them, and your own rate depends on your credit, down payment, points and loan type.
- 30-year fixed7.18%down 0.06 points from October 2026
- 15-year fixed6.57%down 0.03 points from October 2026
- 30-year, a year ago6.23%November 2025
Freddie Mac Primary Mortgage Market Survey®, weekly national averages for conventional, conforming fixed-rate loans (freddiemac.com/pmms). Updated every Thursday.
What a typical Twin Cities home costs a month
Principal and interest on $395,000, the Twin Cities median sale price over the 12 months through September 2026 (Minneapolis Area REALTORS®), at this week's average rates:
| Down payment | Loan | 30-year at 7.18% | 15-year at 6.57% |
|---|---|---|---|
| 3% ($11,850) | $383,150 | $2,596/mo | $3,352/mo |
| 5% ($19,750) | $375,250 | $2,542/mo | $3,283/mo |
| 10% ($39,500) | $355,500 | $2,408/mo | $3,110/mo |
| 20% ($79,000) | $316,000 | $2,141/mo | $2,765/mo |
Principal and interest only. Property taxes, homeowners insurance, mortgage insurance (usually required with less than 20% down) and any HOA dues come on top. Estimates, not a loan offer.
30-year rate, the last five years
Freddie Mac PMMS, last survey of each month.
Show as a table
| Year | 30-year rate |
|---|---|
| Nov 2021 | 3.1% |
| Dec 2021 | 3.11% |
| Jan 2022 | 3.55% |
| Feb 2022 | 3.89% |
| Mar 2022 | 4.67% |
| Apr 2022 | 5.1% |
| May 2022 | 5.1% |
| Jun 2022 | 5.7% |
| Jul 2022 | 5.3% |
| Aug 2022 | 5.55% |
| Sep 2022 | 6.7% |
| Oct 2022 | 7.08% |
| Nov 2022 | 6.58% |
| Dec 2022 | 6.42% |
| Jan 2023 | 6.13% |
| Feb 2023 | 6.5% |
| Mar 2023 | 6.32% |
| Apr 2023 | 6.43% |
| May 2023 | 6.57% |
| Jun 2023 | 6.71% |
| Jul 2023 | 6.81% |
| Aug 2023 | 7.18% |
| Sep 2023 | 7.31% |
| Oct 2023 | 7.79% |
| Nov 2023 | 7.22% |
| Dec 2023 | 6.61% |
| Jan 2024 | 6.69% |
| Feb 2024 | 6.94% |
| Mar 2024 | 6.79% |
| Apr 2024 | 7.17% |
| May 2024 | 7.03% |
| Jun 2024 | 6.86% |
| Jul 2024 | 6.78% |
| Aug 2024 | 6.35% |
| Sep 2024 | 6.08% |
| Oct 2024 | 6.72% |
| Nov 2024 | 6.81% |
| Dec 2024 | 6.85% |
| Jan 2025 | 6.95% |
| Feb 2025 | 6.76% |
| Mar 2025 | 6.65% |
| Apr 2025 | 6.81% |
| May 2025 | 6.89% |
| Jun 2025 | 6.77% |
| Jul 2025 | 6.72% |
| Aug 2025 | 6.56% |
| Sep 2025 | 6.3% |
| Oct 2025 | 6.17% |
| Nov 2025 | 6.23% |
| Dec 2025 | 6.15% |
| Jan 2026 | 6.1% |
| Feb 2026 | 5.98% |
| Mar 2026 | 6.38% |
| Apr 2026 | 6.3% |
| May 2026 | 6.53% |
| Jun 2026 | 6.49% |
| Jul 2026 | 6.66% |
| Aug 2026 | 6.66% |
| Sep 2026 | 7.03% |
| Oct 2026 | 7.24% |
| Nov 2026 | 7.18% |
Get your own rate
Your rate depends on your credit, down payment, points and loan type. Get pre-approved to see yours, then shop homes with a firm budget.
Questions about Minnesota mortgage rates
- What are mortgage rates in Minnesota right now?
- The average 30-year fixed mortgage rate was 7.18% and the 15-year 6.57% in Freddie Mac's survey for the week of November 5, 2026. A year earlier the 30-year averaged 6.23%. These are national averages; Minnesota rates generally follow them, and your own rate depends on your credit, down payment, points and loan type.
- What's the monthly payment on a typical Twin Cities home?
- On $395,000, the Twin Cities median sale price over the 12 months through September 2026, with 20% down at 7.18% for 30 years, principal and interest come to about $2,141 a month; with 5% down, about $2,542. Property taxes, insurance and any mortgage insurance or HOA dues come on top.
- Does Freddie Mac publish Minnesota mortgage rates?
- No. Freddie Mac's Primary Mortgage Market Survey is a weekly national average for conventional, conforming 30-year and 15-year fixed loans. Minnesota lenders' rates tend to track it, but quotes vary by lender and by borrower.
- How do I get a mortgage rate quote?
- Ask a lender for a Loan Estimate, which shows the rate, points and closing costs side by side. Our mortgage partner, Ken Rife of Mutual of Omaha Mortgage, can pre-approve you; or call us at (612) 502-7653.
First-time buyer? See Minnesota first-time home buyer programs, including Minnesota Housing's loans and down payment help.