Mortgage Rates Hold at 7.17% as 165,000 U.S. Jobs Fail to Lift Yields
Updated
Updated · HousingWire · Nov 6
Mortgage Rates Hold at 7.17% as 165,000 U.S. Jobs Fail to Lift Yields
3 articles · Updated · HousingWire · Nov 6
Summary
Mortgage rates ended Friday unchanged at 7.17%, even after U.S. nonfarm payrolls rose 165,000 in October and unemployment held at 4.1%.
CoreWeave's sharp intraday swings — up 10% premarket before nearly turning negative — drove bond yields more than the jobs report, with the 10-year Treasury closing around 4.86%.
The labor data still pointed to a sturdier 2026 job market than 2025, with unemployment down from 4.5% last year as slower labor-force growth lowered the job gains needed to keep the rate steady.
Professional and business services led hiring, with gains also in health care, manufacturing, and transportation, while construction softened slightly but has not yet flashed a clear recession signal.
The muted rate reaction capped a volatile week in which investors also weighed AI-sector risks, possible policy shifts from the new Congress, and hopes for easing trade and Iran tensions.