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Latest Real Estate News – November 13, 2026

By Tim Penner · Penner Group Properties · November 13, 2026

A quiet residential street in the Portland metro on a crisp November morning, craftsman and ranch homes under a pale gold sky, bare maples with amber leaves, and wet pavement catching soft morning light

The November 13, 2026 Edition · Portland Metro & the Willamette Valley

The Short Version

The official and the practical split this week. Freddie Mac's survey put the average 30-year fixed mortgage at 7.11%, down from 7.18% and a fourth straight weekly decline, the lowest in seven weeks, because the reading mostly captured quotes from before Tuesday's inflation data. The daily market then moved the other way: October CPI ran hot at +0.4%, the 10-year Treasury climbed back above 5%, daily mortgage averages jumped to about 7.30%, and markets now price a Fed rate hike at December 8-9 as essentially certain. In the Portland metro, the October Market Action report finally delivered the buyers' read of the year: a flat $545,000 median (up 0.9% year over year), closed sales down 21.5%, and 4.3 months of supply, the most of the year. Property taxes are due Monday, November 16.

We publish a dated news edition here whenever the week's numbers and headlines are worth a plain-English read for buyers and sellers across Beaverton, Hillsboro, Cornelius, Forest Grove, Sherwood, Newberg, Wilsonville, and Woodburn. This edition covers the week Freddie Mac kept falling while the daily market jumped, the Portland metro's clearest buyers' report of the year, and the dates on the calendar you cannot afford to miss.

7.11%

Average 30-year fixed mortgage, week of November 12 (Freddie Mac)

Down from 7.18% the week before, a fourth straight weekly decline and the lowest in seven weeks; the 30-year averaged 6.24% a year earlier

6.45%

Average 15-year fixed mortgage, week of November 12 (Freddie Mac)

Down from 6.57%, and from 5.49% a year earlier

~100%

Priced chance of a Fed rate hike at the December 8-9 meeting, per CME FedWatch

Up from about 84% the day before the CPI report, with roughly one in ten contracts pricing a larger half-point move

$545,000

Portland metro median sale price, October 2026 (RMLS Market Action report)

Up 0.9% year over year, with 4.3 months of supply, the most of the year

The mortgage figures come from Freddie Mac's PMMS; the daily-rate and Treasury moves come from CNBC and Mortgage News Daily as reported; the Fed expectations come from CME FedWatch as reported by Mortgage Professional America; and the Portland metro figures come from the RMLS Market Action report. See the sources at the bottom of this page.

The Survey Fell, the Daily Market Jumped, Both at Once

This is the week the official number and the practical number parted ways. Here is what happened, and why both reads are true:

  • The week's official number went the other way from the week's noise. Freddie Mac's Primary Mortgage Market Survey for the week of November 12 put the average 30-year fixed mortgage at 7.11%, down from 7.18%, a fourth consecutive weekly decline and the lowest reading in seven weeks, with the 15-year averaging 6.45%, down from 6.57%. The survey samples lender quotes from Monday through Wednesday of each week, so the November 12 reading mostly captured the first half of the week, before Tuesday's inflation data landed. That timing is the whole story of this edition: the official average fell, and the daily market moved the other way, and both things are true at once.
  • The CPI report is what changed the daily tape. Tuesday's October Consumer Price Index ran hotter than expected, headline prices up 0.4% on a seasonally adjusted basis and core up 0.3% for a third straight month, against a 0.3% headline consensus. The 10-year Treasury, near 4.88% at the start of the week, jumped about 10 basis points Tuesday to near 4.98% and climbed back above 5% by Thursday, near 5.10%. Mortgage News Daily's daily 30-year index rose 12 basis points to 7.30% on November 10, its biggest one-day jump in more than a month, and the next weekly survey, due November 19, is expected to show that jump in the official average.
  • The Fed math moved with it. CME FedWatch odds of a rate hike at the December 8-9 meeting jumped to essentially certain, from about 84% the day before, after federal funds futures, citing Federal Reserve Governor Christopher Waller backing a quarter-point move and floating the possibility of a half-point, with roughly one in ten contracts pricing the larger move. The FOMC remains on hold at a target range of 3.75% to 4.00% after its October 28-29 meeting, and December 8-9 is the final scheduled meeting of the year, with a Summary of Economic Projections.
  • Freddie Mac's chief economist, Sam Khater, called the fourth straight weekly decline "some relief" for prospective homebuyers "who continue to face affordability challenges," while noting rates remain well above year-ago levels. The national sales tape beneath the headline stays slow: industry reporting still puts the existing-home sales pace near a three-decade low as the rate lock-in keeps supply and demand both thin, and the Census Bureau and HUD publish October housing starts, permits, and completions on November 18.

Our note on the 7.11% reading walks through the survey timing and what it means for a rate lock. The practical version for any buyer: the trend is lower, the quote you see today is higher, and the December meeting is the hinge. Lock when you like a number, not when you hope for one.

The Fed itself remains on hold at a target range of 3.75% to 4.00% and meets next on December 8-9 with a Summary of Economic Projections. The question is no longer whether a hike is possible, it is how large the market has to price one in, and the honest read for a transaction is today's quote, not the survey low or the meeting guess.

Portland Metro: The Buyers' Report of the Year

The October Market Action report landed, and it is the clearest buyers' read of the year. Here is what the metro's new numbers and this week's local decisions mean:

  • The October Market Action report is out, and it is the strongest buyers' read of the year. The RMLS report for the Portland metro put the median sale price at $545,000, up 0.9% year over year, with the average at $609,900, up 0.6%, and a year-to-date average of $617,300, up 0.4%. It was a demand story, not a price story: closed sales fell to 1,622, down 21.5% from a year earlier and 7.4% below September, with pending sales of 1,587, down 20.2%, as high rates and post-election caution held buyers back. Months of supply rose to 4.3, the most of the year, with average market time at 67 days, the two numbers buyers have been waiting to see move together.
  • Portland's City Council held the final vote on its Central City zoning overhaul Thursday. Item 2026-343, the Central City Code Amendment Project, was agendized for second reading and the final vote at the November 12 council meeting, amended to replace the ordinance and its exhibits after the November 6 session. The project amends Title 33 of the Zoning Code, the Comprehensive Plan Map, and the official zoning maps to facilitate housing production and post-pandemic recovery in the Central City, including adjusting building height and floor-area-ratio limits in strategic locations to open more housing where development is currently restricted. The Planning Commission unanimously recommended adoption in July, and council had already approved amendment packages in late October and November 5.
  • The affordable supply pipeline kept producing small, concrete wins. Construction is underway on 31 affordable three- and four-bedroom homes for purchase by first-time buyers at Ruby-Mac Place in East Columbia, a Portland Housing Bureau project, and the 73Foster affordable development landed $4.4 million in Metro Affordable Housing Bond funding and a $1.5 million grant from the Portland Clean Energy Community Benefits Fund, the money that turns a planned building into a permitted one. Homeownership projects are the slow, durable part of the supply story, and each one takes real buyer households out of the rental pool.

Our full read on the October report digs into the closed, pending, and listings numbers, and the note on the market shifting toward buyers explains the mechanics of leverage at 4.3 months of supply.

What This Looks Like Across Our Service Areas

A metro median only matters if it turns into a plan for your town. With the October report finally in buyers' hands, the December meeting three weeks out, and the property tax deadline in three days, here is how the week reads in the communities we serve every day:

Beaverton & Sherwood

Washington County stays our most active territory, and the October report's slower, stable-price conditions show up most clearly there: typical prices near $530K in Beaverton and about $631K in Sherwood, with the strongest demand close to the MAX lines, the Tigard and Sherwood corridors, and well-regarded school districts. A $20 to $60 monthly swing matters at these price points, so the survey low and the daily high pull in the same direction for buyers who act before the December 8-9 meeting. See what homes cost in Beaverton and our Sherwood spotlight.

Hillsboro, Cornelius & Forest Grove

The technology corridor keeps household incomes and demand steady, and new construction in west Washington County frequently comes with lender incentives or builder buydowns that directly answer the rate environment, so a week that shows both a survey low and a daily high is a good week to ask builders what they are offering. Our Hillsboro, Cornelius, and Forest Grove guides cover the local picture.

Washington County note

One calendar item belongs to every homeowner in the county: Oregon's 2026-27 property tax bill is due Monday, November 16, and paying the full bill earns a 3% discount while paying two-thirds earns 2%. If your escrow account already holds the payment, the coupon is handled for you; if you pay directly, the county treasurer's office takes the discount off the top. The rate environment makes the deadline worth fifteen minutes this week, before the Fed's December meeting can change the payment math for anyone financing that bill into a home purchase.

Newberg

Wine-country living keeps Newberg a steady blend of commuters and locals, with mid-$500K medians that keep the rate math workable even near 7%. The market is smaller and slower paced than the metro core, which suits sellers who price realistically and buyers who want room to compare before the December meeting. The November 16 property tax discount applies here too, so check your escrow setup. See our Newberg guide.

Wilsonville & Woodburn

Down I-5, the two ends of the payment spectrum: Wilsonville's typical home near $648K produces the largest monthly number in our service area, while Woodburn near $425K produces the smallest, which is why Woodburn keeps drawing first-time and move-up buyers even at 7%-plus rates. Oregon's down payment assistance, up to $60,000 or 20% of the purchase price for eligible first-time and first-generation buyers, is still taking applications, and in Woodburn it often does more for a monthly payment than waiting for a quarter point. See living in Wilsonville and living in Woodburn.

Every one of these communities has its own rhythm, and the full map of our service areas shows the range we cover, from the metro core to the Willamette Valley.

Oregon Notebook: Taxes, Rent Caps, and Down Payment Help

Three Oregon items belong on the calendar, one of them in three days:

  • Property taxes are due Monday, November 16. Oregon's statutory November 15 date falls on a Sunday this year, so the deadline lands on the 16th. Paying the 2026 bill in full earns a 3% discount and paying two-thirds earns 2%, and under state law the discount is lost after the due date. Our property tax explainer covers why a bill can rise even when a value estimate falls.
  • The statewide rent increase cap is 9.5% for 2026. The Department of Administrative Services' rent stabilization figures set the year's maximum rent increase at 9.5% for most residential tenancies, with a separate 6% cap for larger mobile home parks. It matters for renters weighing a move against a renewal, and for owners setting expectations for next year.
  • Down payment help is still open. Oregon Housing and Community Services' Down Payment Assistance offers eligible first-time and first-generation buyers up to $60,000 or 20% of the purchase price, whichever is less. With the October report finally showing a buyers' market in the Portland metro, that assistance often does more for a monthly payment than waiting for a quarter point. See our down payment assistance guide.

What We Are Watching Next

Five dates sit on the calendar for anyone planning a move before the new year:

  • Monday, November 16: Oregon's property tax due date, and the last day for the 3% full-payment discount.
  • Wednesday, November 18: Census Bureau and HUD housing starts, permits, and completions for October.
  • Thursday, November 19: Freddie Mac's next weekly mortgage reading, the first official survey to capture the post-CPI daily jump.
  • Late November: the National Association of Realtors existing home sales report, the next national sales data point.
  • December 8-9: the Fed's final scheduled meeting of 2026, with a hike now priced as essentially certain and roughly one in ten contracts expecting a half-point.

The week's lesson is the difference between the trend and the quote. Freddie Mac's survey is a smoothed, lagging measure; the rate you are quoted today follows the daily market, which moved up after Tuesday's inflation data and now faces a near-certain December hike. If a transaction works at today's number, lock it. If it only works at last month's number, the honest move is to change the house, the down payment, or the timeline rather than the hope.

Sources

The figures in this note come from these public reports and coverage, retrieved November 13, 2026. Payment and town-level commentary are the team's own reading of the data, not quotes, and nothing here is a forecast we would ask you to bet on.

Not sure what this week means for your move?

We track pending and sold data across the Portland metro, Washington County, and the Willamette Valley all month long, and we read the national reports the way you would hope your team does. Call (971) 777-3137, write to Concierge@pennergroupproperties.com, or send a note through the contact page, and we will walk through the rates, the numbers, and your plan, whether you are buying, selling, or just being curious.

Talk to the Team