What moved in real estate, Nov 2–8, 2026

Rates: 7.18%, a third straight dip. Freddie Mac's weekly survey put the 30-year fixed at 7.18% on Thursday, down from 7.24% the week before and up from 6.22% a year ago. The 15-year was 6.57%, down from 6.60%. On a $350,000 loan, principal and interest at 7.18% is about $2,371 a month, roughly $223 more than at last year's rate.

Prices and demand: still soft. For the four weeks ending November 1, Redfin put the median sale price at $388,604, down 0.4% from a year ago. That's the third straight weekly decline after three years of increases. Pending sales were 275,484, down 16.4% and the lowest in Redfin's records, and they fell in every metro Redfin tracks for the fourth week in a row. 21.2% of listings had a price cut, and the median monthly payment was $2,777, up 11.1%. Active listings were about 1.50 million, up 2.1%, or 4.6 months of supply. New listings were down 4.6%, the lowest since January. Zillow's October pending sales were down 16.8% from a year ago.

Jobs and the Fed: a strong report pushes back on rate relief. Employers added 165,000 jobs in October, well above the 59,000 forecast, and unemployment slipped to 4.1%. Real Estate News reports futures traders now put the odds of a Fed hike on December 9 at about 79%, up from about 67% the day before. Strong jobs are good for the economy, but they make it less likely mortgage rates keep falling.

Locally, it was a quiet week. I didn't find any new Central Indiana housing data this week, and MIBOR hasn't posted its October report yet. It's due by Friday, November 13. The latest official numbers are still September's: single-family median price $320,000, up 1.3% from a year ago. The median home took 27 days to sell, up from 20. Active inventory was 7,405 homes, up about 16%, a 2.9-month supply, and pending sales were down 6.8% from last year.