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Colorado mortgage rates fell again this week: the 30-year fixed averaged 7.18% on November 5, 2026, down from 7.24% last week (Freddie Mac PMMS). The 15-year fixed averaged 6.57%, down from 6.60%. That is the third straight weekly drop since the 7.40% peak on October 8. For buyers in Denver, Aurora and Colorado Springs, here is what moved, why, what it does to a monthly payment, and what to do before the Fed meets again December 8-9.
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7.18% 30-year fixed Down from 7.24% last week (Freddie Mac, Nov 5, 2026) | 6.57% 15-year fixed Down from 6.60% last week (Freddie Mac, Nov 5, 2026) |
-0.22 Points off the peak 7.40% on October 8 to 7.18% today | $60 Less per month On a $400,000 loan vs. the October 8 peak, principal and interest |
What are mortgage rates in Colorado this week?
Freddie Mac's Primary Mortgage Market Survey is the weekly benchmark lenders and news outlets quote. It is a national average built from conventional purchase applications for conforming loans, published every Thursday at noon Eastern. Colorado lenders price off the same bond market, so the national average is the right starting point for a Colorado buyer. For the live table that updates every week, bookmark our Colorado mortgage rates page.
| Week (2026) | 30-year fixed | 15-year fixed |
|---|---|---|
| Sept 3 | 6.71% | 6.04% |
| Sept 10 | 6.76% | 6.09% |
| Sept 17 | 6.95% | 6.26% |
| Sept 24 | 7.03% | 6.42% |
| Oct 1 | 7.28% | 6.60% |
| Oct 8 | 7.40% | 6.73% |
| Oct 15 | 7.40% | 6.71% |
| Oct 22 | 7.32% | 6.68% |
| Oct 29 | 7.24% | 6.60% |
| Nov 5 | 7.18% | 6.57% |
Source: Freddie Mac PMMS weekly averages. A year ago this week, the 30-year averaged 6.22% and the 15-year 5.50% (Freddie Mac).
Why did mortgage rates go down this week?
Freddie Mac's November 5 release says rates continued their downward trajectory against a backdrop of strong economic growth. Two facts sit behind the last five weeks:
- The Fed held on October 28. The Federal Reserve kept its target range at 3.75% to 4.00%, by a 10-2 vote. The two dissenters, Lisa D. Cook and Beth M. Hammack, wanted a quarter-point hike. The statement says inflation "remains elevated."
- The September hike is behind us. The Fed raised the range to 3.75% to 4.00% on September 16, and the 30-year climbed from 6.76% (Sept 10) to the 7.40% peak (Oct 8). Since then the market has given back 0.22 points.
The Fed does not set mortgage rates. Mortgage rates follow the bond market, and the bond market reacts to inflation reports and Fed signals. The next Fed meeting is December 8-9, 2026, with new economic projections (Federal Reserve calendar).
What does 7.18% do to a monthly payment?
Principal and interest on a $400,000 30-year fixed loan, by our math:
| Rate | Monthly principal + interest | vs. 7.18% today |
|---|---|---|
| 7.40% (Oct 8 peak) | $2,770 | +$60 |
| 7.24% (last week) | $2,726 | +$16 |
| 7.18% (Nov 5) | $2,710 | - |
| 6.22% (a year ago) | $2,455 | -$255 |
| 6.57% on a 15-year | $3,500 | +$790, paid off in half the time |
The drop from the peak saves about $717 a year on that loan. Add property taxes, insurance and any HOA in our Colorado mortgage calculator for the full number, and read why a half point matters less than buyers think in 7% mortgage rate: only $135 a month more.
Will mortgage rates go down more in Colorado?
No official source forecasts mortgage rates. Freddie Mac reports what rates did; the Fed reports what it did. What we know: rates are down three weeks in a row, the Fed's last move was a hike, two Fed voters wanted another hike in October, and the next decision lands December 9. Waiting for a lower rate is a bet. Buying the right home and refinancing later is a plan; our guide should I buy now or wait for rates runs both paths.
How to get a lower rate than the average
- Ask the seller to pay for it. Seller credits buy the rate down; see our seller concessions guide for the 2-1 buydown and the caps by loan type.
- Assume the seller's loan. FHA and VA loans are assumable, and the buyer keeps the rate the seller locked when they bought. Browse assumable mortgage homes and Colorado VA assumable homes.
- Use Colorado programs. CHFA down payment assistance pairs a CHFA first mortgage with help on the down payment.
- Check builder incentives. Builders buy rates down on new homes; see new construction incentives in Colorado.
- Compare written quotes. Get Loan Estimates the same day so the numbers match. Our lender partner quotes Colorado buyers in one call.
How this affects you
Buyers. At 7.18%, a $400,000 loan costs $60 a month less than it did on October 8. Get pre-approved this week and ask your lender how a lock works between now and December 9. Start with can I afford a home now and the first-time buyer guide.
Sellers. Every tenth of a point down brings buyers back off the fence. Price for today's buyers, not last spring's, and offer a rate buydown credit instead of a bigger price cut. Get the live number with a free home value report.
Homeowners. If you bought at 7.40% or higher this fall, this week alone does not pay for a refinance. Track the gap: run the break-even on closing costs from our Colorado closing costs guide before you refinance.
The Colorado market. Rates are still 0.96 points above a year ago, and prices are in negotiation mode; read is the Denver housing market crashing and the Denver real estate statistics for the price side. Add tax and insurance costs from Colorado property taxes 2026 and the Colorado FAIR Plan guide.
What to watch out for
- The average is not your rate. Credit score, down payment, points and loan type move your quote above or below 7.18%.
- Points hide in the quote. A low rate with 1.5 points costs cash at closing; compare the APR and the points line on each Loan Estimate.
- Lock dates matter. A lock that expires before closing costs money to extend. Match the lock to your contract dates.
- December 9 is a known date. The Fed decision can move rates either way that week; lock or float on purpose, not by accident.
- Online "today's rate" ads assume top credit and paid points. Ask for a written Loan Estimate.
Homes with an assumable loan
These homes are pulled live from the MLS every time you open this page, and each one lists an assumable FHA or VA loan. See more financing paths on our Colorado home financing page and FHA and VA home buying.
