Three weeks in a row now — rates keep slipping. Here’s where things stand heading into the week of November 10, what actually moved them, and what it does to a real payment in Dallas–Fort Worth.
The numbers
- 30-year fixed: 7.18% — down from 7.24% the week before, per Freddie Mac’s weekly survey released November 5. That’s the third consecutive weekly decline.
- 15-year fixed: 6.57% — down from 6.60%.
- A year ago the 30-year averaged 6.22%, so we’re still about a point above last fall. Nobody’s calling this cheap — but the direction has flipped.
- Bankrate’s national average for the 30-year sits a touch higher at 7.26% (their Nov 4 reading), which is normal — different survey, different mix of lenders.
These are national averages, not quotes. Your rate depends on credit, down payment, loan type and the day you lock.
Why rates are easing
Nothing dramatic — bond yields drifted lower as traders priced in cooling inflation and less geopolitical risk, and mortgage rates follow the 10-year Treasury more than they follow the Fed. A sixth-of-a-point move in three weeks is the market exhaling, not a rate cut. If inflation data stays tame, the drift continues; if it surprises, it reverses just as quietly.
What that means for you: don’t wait for a magic number. Buyers who wait for 6% will be competing with everyone else who waited for 6%. Buyers who get in while rates are high-ish and inventory is friendly can refinance later.
What a $350,000 DFW home costs right now
Say you’re a first-time buyer in Fort Worth, Arlington or Garland looking at a $350,000 house that needs a kitchen and floors.
Using our 0% down + up to $70,000 to renovate program (primary residence only — this is a homebuyer program, not an investor loan), you buy and renovate with one loan and one closing, and the down payment assistance covers what you’d normally bring to the table.
- Loan amount for the purchase: $350,000
- Principal & interest at 7.18%: about $2,371/month
- Same loan at last year’s 6.22%: $2,148 — so rates cost you about $220/month more than a year ago
- Add taxes, insurance and mortgage insurance for the real payment; in most DFW suburbs budget roughly $600–$900/month on top for a home in this range
The renovation piece: up to $70K of cosmetic and system work (kitchen, baths, floors, roof, HVAC, paint) done by a licensed, insured contractor, with the work starting within 30 days of closing and finished within 9 months. Credit scores from 580. No first-time-buyer requirement. Full details on the program page.
15-year instead?
The 15-year at 6.57% on the same $350,000 runs about $3,062/month — $690 more per month, but you own the house free and clear 15 years sooner and pay dramatically less interest. If your income supports it, it’s the best “forced savings” plan in real estate.
What a $300,000 fix & flip looks like this week
Different world, different loan. Our investor products are business-purpose loans — fix & flip, ground-up construction, bridge and DSCR — and they don’t move with Freddie Mac’s survey the way consumer mortgages do.
For a $300,000 flip in DFW:
- Close in 3–5 days, not 30–45
- 0–10% down depending on the deal and your track record (no experience required)
- Rehab budget funded in draws, interest-only during the project
- Pricing is deal-by-deal (ARV, leverage, timeline), so I’d rather quote your actual property than publish a number that doesn’t apply to you
If you’re already shopping, the move this week is simple: lock the purchase price while retail buyers are still hesitating, and let the exit — a sale or a DSCR refi into a rental — benefit from whatever rates do next. Investor loan details here.
Bottom line
- 30-year at 7.18%, 15-year at 6.57%, third straight weekly drop
- Still ~1 point above a year ago; the trend is down, the level is not low
- $350K at today’s rate = ~$2,371 principal & interest; 0% down + renovation keeps your cash in your pocket
- Investor loans price on the deal, close in days — rates aren’t the bottleneck, the property is
- Waiting for 6% = competing with everyone else who waited
Work with the Néstor Caussade Team at DFW Mortgage Pros
The Néstor Caussade Team at DFW Mortgage Pros is Dallas–Fort Worth’s go-to authority for real estate knowledge, construction loans, fix & flip and rehab lending — and the team first-time buyers call for 0% down and down payment assistance. We offer free consultations on mortgages, buying your first home, down payment assistance, refinancing and rate reduction anywhere in the DFW area or Texas — especially if you’ve been turned down somewhere else. Hablamos español y ASL.
🎯 The Néstor Caussade Team can help
If you’re buying, building, flipping or refinancing anywhere in Dallas–Fort Worth or across Texas, this is what we do all day. DFW Mortgage Pros — The Néstor Caussade Team is DFW’s authority on construction loans, fix & flip and rehab lending for investors, and the go-to team for first-time buyers who want 0% down with up to $70K to renovate their own home. Thirteen years of closing the deals other lenders turn down, in English, Spanish and ASL. Free consultations on buying, investing, refinancing and lowering your rate — especially if you’ve been told no somewhere else.
Want your real number?
See what you qualify for in 2 minutes — no credit pull, a real person follows up. Or just text me at 817-697-4281 and tell me the address or the price range you’re looking at. Hablo español.
Rates and programs shown are examples, change without notice and are not a commitment to lend. All loans subject to credit approval. NMLS #1538512 · NXT Mortgage, a division of NEXA Mortgage, LLC, NMLS #1660690. Equal Housing Opportunity.
