US Mortgage Rates Ease for Third Consecutive Week, Inventory Improves
Global real estate markets show signs of rebalancing, with easing mortgage rates in some regions and continued shifts in investment preferences.
The story
The US housing market is experiencing a notable rebalancing, as mortgage rates continue their downward trend. The 30-year fixed mortgage rate averaged 7.18% as of November 5, marking the third consecutive weekly decline from its October peaks [5, 17].
This offers some relief to homebuyers facing elevated borrowing costs. Concurrently, active housing inventory has climbed to 1.60 million units, representing an approximately 4.8-month supply [1].
This marks the most balanced market environment seen in nearly a decade, providing buyers with more options and greater negotiation leverage [1]. While home value growth has decelerated to a modest 1% to 3% annually, widespread price declines are deemed unlikely due to solid structural equity among current owners [1]. Economists anticipate mortgage rates will hover between 6.5% and 7.0% through early 2027 as inflation moves closer to central bank targets [1].
G20 + UAE this cycle
| Country | Price Yoy Pct | Prime Yield Pct | Mortgage Rate Pct | Direction |
|---|---|---|---|---|
| United States | 2.4 | N/A | 7.18 | easing |
| United Kingdom | N/A | N/A | N/A | tightening |
| Canada | -10.0 | N/A | N/A | cooling |
| Germany | N/A | N/A | N/A | cooling |
| France | N/A | N/A | N/A | stable |
| Italy | N/A | N/A | N/A | moderate risk |
| Japan | N/A | N/A | N/A | elevated risk |
| Australia | N/A | N/A | N/A | subdued growth |
| South Korea | 10.0 | N/A | N/A | elevated risk |
| China | N/A | N/A | N/A | flat |
| India | N/A | N/A | N/A | growing interest |
| Brazil | N/A | N/A | N/A | stable |
| Mexico | N/A | N/A | N/A | flat |
| Indonesia | N/A | N/A | N/A | flat |
| Saudi Arabia | N/A | N/A | N/A | flat |
| South Africa | N/A | N/A | N/A | flat |
| Turkey | N/A | N/A | N/A | flat |
| Argentina | N/A | N/A | N/A | flat |
| Russia | N/A | N/A | N/A | flat |
| UAE | N/A | N/A | N/A | elevated risk |
UAE corner
Dubai continues to be a magnet for international property investors, leveraging its flexible Golden Visa program. To secure a 10-year Golden Visa, investors must own freehold residential or commercial property in designated zones with a gross purchase value of at least AED 2 million (approximately USD 544,500) [8, 24].
This threshold can be met by combining multiple properties, and both mortgaged and off-plan properties are eligible, provided DLD requirements are met [8, 18, 24]. For those with smaller budgets, a two-year renewable investor visa became accessible to almost any freehold homeowner in April 2026, following the removal of the previous AED 750,000 minimum for sole owners [26]. The Dubai Land Department (DLD) plays a central role in the streamlined application process, which now integrates DLD and GDRFA Dubai workflows [20].
India corner
Non-Resident Indians (NRIs) are showing sustained and growing interest in the Indian real estate market, with a notable shift in investment preferences. Beyond traditional residential property appreciation, NRIs are increasingly prioritizing factors like connectivity, construction quality, rental income, and healthcare access for family members in India [14].
Mumbai, Bengaluru, Delhi-NCR, Pune, and Hyderabad remain top destinations for NRI property buyers [19]. A significant trend emerging is the pivot towards commercial real estate in Tier-2 cities such as Indore, Jaipur, Kochi, and Coimbatore, which are offering higher rental yields, often ranging from 8% to 11%, outperforming Tier-1 residential yields [36]. Prestige Estates announced plans in October 2026 to launch over ₹40,000 crore (approximately USD 4.8 billion) worth of homes in the second half of FY27 across major Indian cities, signaling continued developer confidence [33].
Residency-by-investment
Golden Visa
Country: Portugal
Threshold: €500,000
What Changed: Property purchase no longer qualifies since October 2023; main route is investment in regulated funds. Citizenship residency requirement extended to 10 years for most non-EU nationals as of May 2026 [10, 11, 16].
Golden Visa
Country: Greece
Threshold: €250,000 - €800,000
What Changed: Property investment remains central, with tiered thresholds: €250,000 for commercial-to-residential conversions, €400,000 in most regions, and €800,000 in high-demand areas like Athens and Thessaloniki [7, 13].
Golden Visa
Country: UAE
Threshold: AED 2,000,000
What Changed: The 10-year Golden Visa requires property worth AED 2 million; mortgaged and off-plan properties are eligible. A 2-year investor visa has no minimum property value for sole owners since April 2026 [26].
Spotlight country
The United States real estate market is currently characterized by moderating home price growth and improving inventory levels. Single-family home prices rose 1.7% year-over-year in September 2026 but saw a 0.3% monthly decline from August, pushing the national median above $400,000 [15].
This marks the largest monthly decline since 2022, influenced by high mortgage rates curbing summer demand [15]. However, the market exhibits regional variations; Northeast and Midwest states have seen annual price gains, while some Western and Southern states experienced declines [15].
Mortgage rates have recently eased, with the 30-year fixed rate at 7.18% as of November 5 [5, 17]. This, coupled with an increase in active listings to 1.60 million units, suggests a more balanced market where buyers have greater bargaining power [1].
The contrarian view
Despite prevalent fears of a housing market crash, Chief Investment Officer Dave Meyer of BiggerPockets Real Estate Podcast argues that the data does not support a widespread downturn. In a view discussed in an article updated on November 8, Meyer points to the national mortgage delinquency rate of 3.72%, which remains below the long-run average of 4.54% [31].
He asserts that the scale of delinquencies is incomparable to the surge seen before the 2008 crash. However, Meyer does flag FHA loans as a genuine concern, noting that delinquencies in this segment have climbed from under 4% to approximately 6% [31].
What we'll be watching
- The US Federal Housing Finance Agency (FHFA) House Price Index for September 2026, due for release on November 24, 2026 [3].
- Signals from upcoming central bank meetings regarding potential shifts in borrowing costs, particularly the US Federal Reserve's anticipated rate hike in December and January [2, 35].
- Further updates on the Australian GDP growth and established housing market conditions, following the Reserve Bank of Australia's November 2026 Monetary Policy Statement [32].
- Developments in global energy prices and geopolitical events, which continue to influence inflation outlooks and monetary policy decisions worldwide [37].
Reporting + analyst voices: grounded via Google Search at publish time.