Mortgage rates kept easing last week. Bonds rallied after the midterm election, oil prices fell, and investors moved money out of riskier tech stocks and into safer investments like bonds. For anyone looking at a home on the Westside, that means the monthly cost of a purchase is moving in the right direction for the second week in a row. Here's where rates stand, what pushed them lower, and what it means if you're buying or selling.
This Week's Mortgage Rates (Week of November 9, 2026)
According to this week's rate sheet, here is where jumbo purchase rates stand:
| Loan type | How it works | Rate | APR |
|---|---|---|---|
| 30-Year Fixed | Same rate for all 30 years | 6.375% | 6.50% |
| 10/6 ARM | Fixed for 10 years, then adjusts every 6 months | 6.000% | 6.12% |
| 7/6 ARM | Fixed for 7 years, then adjusts every 6 months | 5.750% | 5.87% |
Rates assume 20% down and 1 point paid at closing. Rates vary by borrower and change daily; your lender can give you a personal quote.
Every rate on this sheet assumes 1 point paid at closing, so your own quote will depend on your down payment, credit and how the loan is set up. Also, last week's Mortgage Watch used a different lender's rate sheet, so the two weeks aren't a straight apples-to-apples comparison. The cleaner signal is the 10-year Treasury, which closed last week at 4.85%, down 0.09%.
For the national picture, Freddie Mac's weekly survey put the average 30-year fixed at 7.18% as of November 5, its third straight weekly decline (Freddie Mac).
What Moved Mortgage Rates This Week
Mortgage rates follow the 10-year Treasury more closely than the Fed, and three things pushed it lower last week, according to Cohen Financial Group's weekly market analysis.
The election. Bonds rallied after the midterms. The results are expected to make new government spending harder to pass, which means fewer new bonds competing for investor dollars.
Oil. Optimism about a resolution in the Middle East pulled oil prices down, easing worries about future inflation.
Jobs. The economy added 165,000 jobs in October, far more than expected, and unemployment dipped to 4.1% (IndustryWeek). A report that strong usually pushes rates up, but this time it had little impact.
Inflation is still above the Federal Reserve's target, though, so the path for rates could be bumpy over the next few weeks.
What It Means for Westside Buyers
The simplest way to see what this week's rates mean is the monthly payment. Here is the estimated principal and interest on a 30-year fixed at 6.375%, along with how much every 0.125% move in rate changes that payment:
| Purchase price | Down payment | Loan amount | Monthly P&I | Each 0.125% |
|---|---|---|---|---|
| $2,000,000 | 20% | $1,600,000 | $9,982 /mo | ±$131 /mo |
| $3,000,000 | 20% | $2,400,000 | $14,973 /mo | ±$197 /mo |
| $5,000,000 | 25% | $3,750,000 | $23,395 /mo | ±$307 /mo |
Principal and interest only. Does not include property taxes, insurance or HOA dues. Down payments reflect the maximum financing on this week's rate sheet (80% up to $3,000,000; 75% up to $5,000,000). For illustration only; your lender's quote will differ.
A few things stand out to me from these numbers.
Small rate moves add up at Westside prices. On a $3 million home, every 0.125% drop in rate saves about $197 a month, or more than $2,300 a year. Two or three weeks of easing like we've just had can shift what a payment covers, which can be the difference between stretching for a home and comfortably affording it.
Use the window to negotiate. Seller credits at closing are a common negotiating tool, and a credit can be used to buy down your rate. If a home has been sitting, asking for a credit toward a buydown instead of a straight price cut can lower your monthly payment more than the same dollars off the price.
Get your pre-approval current. If your pre-approval is more than a few weeks old, it was likely written at a higher rate. Updating it now shows sellers you're ready and gives you a clearer picture of your real budget. Your lender can also walk you through how the different loan options affect your payment and timeline.
What It Means for Westside Sellers
Easing rates bring buyers back off the sidelines. Every step down in rates pulls more buyers into the market and stretches what they can pay. If you've been waiting for better conditions, back-to-back weeks of relief are the kind of shift that tends to show up in showings and offers first.
Price for today's buyer, not last spring's. Rates are better than they were in October but still higher than many buyers would like. Homes priced for the current payment math are best positioned to get attention. Overpricing and waiting for rates to fall further is still a risky bet.
Think about credits as a tool. Offering a credit that a buyer can use for a rate buydown can make your home more affordable on a monthly basis without lowering your list price. It's worth discussing as part of your pricing strategy.
Timing still matters. The holidays are close, and inventory typically thins out in December. Sellers who list in the next few weeks often face less competition from other listings while serious buyers are still active.
What to Watch This Week
The conflict in the Middle East and oil prices will remain a major focus. The Consumer Price Index (CPI), the most widely followed monthly inflation report, comes out Tuesday. Mortgage markets are closed Wednesday for Veterans Day. Existing Home Sales are released Thursday, and the Producer Price Index (PPI) comes out Friday. A cooler inflation reading would support lower rates; a hot one could push them back up.
Frequently Asked Questions
What are jumbo mortgage rates in Los Angeles this week?
According to Cohen Financial Group's rate sheet for the week of November 9, 2026, the 30-year fixed jumbo purchase rate was 6.375% (6.50% APR), the 10/6 ARM was 6.000% and the 7/6 ARM was 5.750%, each assuming 20% down and 1 point. Rates vary by borrower, so get a personal quote from your lender.
Why did mortgage rates go down after the 2026 midterm election?
Bonds rallied after the election. Oil prices fell on optimism about the Middle East, which eased inflation worries, and the election results are expected to make new government spending harder to pass, meaning fewer new bonds competing for investor dollars. Lower bond yields usually bring mortgage rates down with them.
How much is the monthly payment on a $2 million home at today's rates?
With 20% down, a $1.6 million loan on a 30-year fixed at 6.375% works out to about $9,982 a month in principal and interest, before property taxes, insurance and HOA dues. Every 0.125% change in rate moves that payment by about $131 a month.
Should I wait for mortgage rates to drop further before buying on the Westside?
No one can predict rates with certainty. Inflation is still above the Fed's target, so the path could be bumpy. Many buyers focus on finding the right home at a payment that works today, and use seller credits toward a rate buydown to improve their numbers. A trusted lender can show you how different rate scenarios affect your budget.
Is now a good time to sell a home on the Westside?
Easing rates tend to bring more buyers into the market and stretch what they can afford. Sellers who price for today's payment math and list before the holiday slowdown often face less competition from other listings. A pricing opinion based on current comps is the best place to start.
Let's Talk Through Your Numbers
If this week's dip has you rethinking your budget, I'm happy to walk through what it covers on the Westside right now and connect you with a lender I trust. And if you're thinking about selling, I can give you a read on pricing and what buyers are asking for. Call or text 310-853-2643 or email info@paulsalazargroup.com.
Paul Salazar is a licensed real estate agent, not a mortgage lender. Rates shown are from Cohen Financial Group's rate sheet for the week of November 9, 2026, and are for informational purposes only. Rates, APRs and terms vary by borrower and are subject to change without notice. Please consult a licensed mortgage professional for a personal quote. DRE #01763227.
