Mortgage Rates, Housing and the Fed: Nov. 4, 2026
Three things worth knowing this week if you are buying or own a home in Santa Clarita or LA County.
Mortgage Rates Dip for a Second Straight Week
Freddie Mac’s weekly survey put the average 30-year fixed rate at 7.24% as of Oct. 29, down from 7.32% the week before and the lowest reading this month. The 15-year averaged 6.60%. A year ago the 30-year averaged 6.17%, so rates are still well above last fall.
What it means for you: a small drop still helps buying power. This is a national average for borrowers with 20% down and strong credit, not a quote. Your rate depends on your loan. Source: Freddie Mac PMMS. The next update comes out Thursday, Nov. 5.
Pending Home Sales Hit a Record Low
The National Association of Realtors said contract signings fell 7.3% in September and were down 11.3% from a year earlier. The index was the lowest since it began in 2001, and the West had the biggest monthly drop at 9.2%. NAR’s chief economist pointed to fast-rising mortgage rates.
What it means for you: fewer buyers are competing right now, which can give buyers in the Santa Clarita Valley more room to negotiate. Source: NAR. October numbers come out Nov. 18.
The Fed Holds Rates Steady at 3.75% to 4%
At its Oct. 27-28 meeting the Federal Reserve kept its benchmark rate unchanged, saying the economy is growing at a strong pace but inflation remains elevated. Two members voted for a quarter-point increase.
What it means for you: the Fed doesn’t set mortgage rates directly, but its fight with inflation keeps pressure on them. Source: Federal Reserve.
Thinking About Buying While Others Wait?
New construction builders in Valencia are offering incentives right now. See current new construction, compare home loan options or read how FHA loans work.
Call or text 661-877-4162Andy & Rebekah, Entity Realty, entityrealty.com
Andy Martinez Jr., Mortgage Loan Originator | NMLS #2171006 · Entity Mortgage and Realty, Company NMLS #2371431 · CA DRE #01978202 · 26254 Prima Way, Santa Clarita, CA 91350 · Equal Housing Opportunity. General information only, not a commitment to lend. Approval, rates and terms depend on credit, income, property and program guidelines and can change.