Mortgage Rates Dipped Three Weeks Running: Logan Mohtashami’s Read, and What It Means Near MTU
Every week, HousingWire lead analyst Logan Mohtashami publishes his Housing Market Tracker, a numbers-first look at mortgage rates, home sales and inventory. His latest edition, published November 7, opens with a simple line: “Mortgage rates fell, demand stabilized and inventory had a noticeable decline last week.”
Just a few days ago we shared Dave Meyer’s take on forecasts calling for rates to stay higher for longer. Logan’s tracker is a useful counterweight: rates have now eased three weeks in a row, after the 10-year Treasury yield pulled back from the mid-5% range it held in early October. He’s careful not to oversell it, though. Rates are still above 7% in his numbers, and he says he wouldn’t get excited until the 10-year breaks below 4.70% and stays there.
What the numbers say
A few data points stood out to us. Nationally, active inventory dipped to about 902,000 homes for the week, but it’s still running about 7% higher than a year ago, so buyers have more to choose from than last fall. Price cuts are common: roughly 43% of listings saw a reduction, slightly more than the same week last year. And Logan points out that 2026 has been the strongest year for new listings since 2022. He also asks the fair question of whether the recent dip is a real shift or just the normal fall slowdown.
What it means around Houghton and MTU
National data never maps perfectly onto the Copper Country. Our market is small, seasonal and tied closely to Michigan Tech’s calendar. Still, the direction matters. If you’re a parent thinking about buying a place for a student, a professor relocating, or someone eyeing a cabin for weekend getaways and vacation rental income, a softer rate trend plus more sellers willing to negotiate is a better setup than we saw a few months ago. November and December are traditionally quiet months for listings up here, which can mean less competition if you’re ready to move.
For small rental owners like us, the lesson is the same one Logan keeps repeating: don’t build plans around a rate you hope to get. Run your numbers at today’s rates, treat any further drop as a bonus, and remember a refinance is always an option later. A cabin or mid-term rental that works at 7% is a much safer bet than one that only works at 6%.
Read the full tracker at HousingWire: Mortgage rates fell and demand steadied as inventory dipped
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