Mortgage rates decline as housing inventory tightens
Mortgage rates continue to drop for a third week as buyer demand holds steady amid a shrinking housing supply.
(Photo via HousingWire)
Housing inventory saw a weekly decline, falling to 902,740 units as the market navigates a period of fluctuating rates and shifting supply. The latest data, published Nov. 7, 2026, indicates that mortgage rates have now eased for three consecutive weeks.
Logan Mohtashami, lead analyst at HousingWire, reported that buyer demand has steadied despite the reduction in available inventory. Regarding the current state of demand, Mohtashami noted that this represents the first real noticeable hit on weekly demand all year that is not tied to a holiday.
Market spreads have risen to 2.27%. According to the analysis, if these spreads were to return to their 2026 lows, mortgage rates could potentially reach approximately 6.72%. The report highlights these movements as the industry continues to evaluate whether current trends reflect a fundamental market shift or are merely the result of seasonal factors.