Rates & Market

Mortgage Rate Predictions for the Next 90 Days (Nov 2026–Jan 2027)

Where mortgage rates could go from November 2026 to January 2027: Fannie Mae and MBA forecasts, three scenarios, key dates and what to do.

By Shivam Kaushik · Updated November 7, 2026 · 4 min read

Calendar with push pins marking key dates for mortgage rates

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Updated November 7, 2026. This page covers November 2026 through January 2027. We refresh it every quarter, and update the numbers when a new forecast comes out.

Bottom line: Over the next 90 days, the big forecasters expect the 30-year fixed rate to stay in the low-to-mid 7% range. Fannie Mae sees about 7.4% for the rest of 2026 and 7.5% in early 2027. The MBA sees about 7.3%. Today’s rate is 7.18%, so the forecasts actually sit a little above where rates are now.

Quick answers

Today: 7.18% (Freddie Mac, week of November 5, 2026), down three weeks in a row.
Forecast for the next 90 days: about 7.3%–7.5% (MBA and Fannie Mae).
Biggest events: inflation report on November 10 and the Fed decision on December 9.
Our take: small swings are likely; a drop below 7% would need cooler inflation.

Where mortgage rates are right now

After peaking around 7.4% in October, the 30-year fixed rate has eased for three straight weeks. Freddie Mac’s survey put it at 7.18% for the week of November 5, 2026, with the 15-year fixed at 6.57%. A strong October jobs report on November 6 didn’t push rates up much, which was a small win for borrowers.

What forecasters expect for the next 90 days

Forecaster	Q4 2026 (Oct–Dec)	Q1 2027 (Jan–Mar)
Fannie Mae (October forecast)	7.4%	7.5%
Mortgage Bankers Association (Oct 11)	7.3%	Above 7%

Both forecasts were made in mid-October, when rates were higher than today. If inflation keeps cooling, the next round of forecasts could come in a bit lower. If it heats up, they could rise again.

Three scenarios for the next 90 days

This table is our own analysis, based on the forecasts above and the events on the calendar. It’s not an official forecast from any agency.

Scenario	What happens	30-year fixed range	Payment on $400K
Better case	Inflation cools on November 10, the Fed holds in December	About 6.8%–7.0%	~$2,608–$2,661
Base case	Mixed data, the Fed raises a quarter point in December as markets expect	About 7.0%–7.4%	~$2,661–$2,770
Worse case	Hot inflation and signals of more Fed hikes in 2027	About 7.4%–7.6%	~$2,770–$2,824

Payments are principal and interest on a 30-year fixed loan. Plug in your own loan size with the mortgage calculator.

Key dates to watch

Date	Event	Why it matters
November 10	October Consumer Price Index	The biggest test for rates this month
Thursdays	Freddie Mac weekly rate survey	The benchmark weekly average
Early December	November jobs report	Strong hiring could keep rates up
December 9	Fed decision and new projections	Markets expect a quarter-point hike
January 26–27, 2027	First Fed meeting of 2027	The MBA expects another hike in early 2027

For more on the December meeting, read will the Fed raise rates in December 2026?

Myth buster“A Fed hike in December means mortgage rates will jump.” Not necessarily. Markets already expect it, so much of it is priced in. A surprise, like no hike or a signal of many more hikes, moves mortgage rates more than the expected move itself.

What to do in the next 90 days

Buying soon? Get pre-approved now and shop at least three lenders. If you go under contract, consider locking before the December 9 Fed meeting. See how rate locks work.
Thinking of refinancing? At around 7.2%, a refi mostly helps if your current rate is well above that. Do the break-even math with the refinance calculator.
Have an ARM or a HELOC? These follow short-term rates, which a Fed hike would push up. Stress-test with the HELOC calculator.
Waiting on the sidelines? Use the time to raise your credit score and save. Our credit score guide shows what moves the needle.

Fun factRates can move fast. Freddie Mac’s survey had the 30-year fixed at 6.95% in mid-September 2026 and 7.40% by early October, a jump of almost half a point in about three weeks. On a $400,000 loan, that’s roughly $120 more a month.

The longer view

FAQ

What will mortgage rates be in the next 90 days?

Fannie Mae and the MBA expect about 7.3% to 7.5% for the 30-year fixed through early 2027. Today’s rate is 7.18%.

Will mortgage rates go down in December 2026?

A small dip is possible if inflation cools, but the Fed is expected to raise its key rate on December 9, which limits how far mortgage rates can fall.

Will mortgage rates drop below 7% before the end of the year?

It’s possible in a better-case scenario, but neither Fannie Mae nor the MBA forecasts it.

Should I lock my rate now or wait?

If you’re under contract and the payment works, locking removes the risk of a bad inflation or Fed surprise. If you’re months away, focus on credit and savings for now.

Sources: Freddie Mac Primary Mortgage Market Survey (November 5, 2026); Fannie Mae Economic and Strategic Research Group, October 2026 forecast; Mortgage Bankers Association Mortgage Finance Forecast (October 11, 2026); Federal Reserve FOMC calendar; U.S. Bureau of Labor Statistics release schedule. Scenario ranges are Keys & Coffee analysis, not official forecasts. Payments are principal and interest only. This article is general education, not financial advice. Keys & Coffee is not a lender.

Written by

Shivam Kaushik· IMSHIVA

Founder & Director, QuibbleTech Solutions Pvt Ltd · Editor, Keys & Coffee

Shivam Kaushik is the founder of QuibbleTech Solutions Pvt Ltd and the editor of Keys & Coffee. He is not a licensed loan officer or financial adviser. Every guide here is written in plain English and checked against official sources such as the CFPB, HUD, Fannie Mae, Freddie Mac and the Federal Reserve. For advice on your own loan, talk to a licensed lender.

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Keys & Coffee is an independent education site. We are not a lender or mortgage broker, we do not take loan applications or payments, and nothing here is financial advice. This site is not affiliated with Axia Home Loans, Axia Financial, LLC, or Planet Home Lending. Rates and rules change often — always confirm details with a licensed loan officer and check any lender on the NMLS Consumer Access site.