Wednesday, November 11, 2026Mortgage news · Rates & market context

Inflation · ORIGINAL ECONOMIC RELEASE

November 2025 Consumer Price Index

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis over the 2 months from September 2025 to November 2025, the U.S. Bureau of Labor Statistics reported today. Over the last 12…

Historical releaseThe figures below describe the original reporting period. They are not today’s rates or a current economic forecast.Today’s market brief →

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Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis over the 2 months from September 2025 to November 2025, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.7 percent before seasonal adjustment. BLS did not collect survey data for October 2025 due to a lapse in appropriations.

The seasonally adjusted index for all items less food and energy rose 0.2 percent over the 2 months ending in November. From September to November, the index for shelter increased 0.2 percent. The energy index rose 1.1 percent over the same 2-month period and the food index increased 0.1 percent. Other indexes which increased over the 2 months ending in November include household furnishings and operations, communication, and personal care. In contrast, the indexes for lodging away from home, recreation, and apparel decreased over the same 2-month period.

The all items index rose 2.7 percent for the 12 months ending November, after rising 3.0 percent over the 12 months ending September. The all items less food and energy index rose 2.6 percent over the last 12 months. The energy index increased 4.2 percent for the 12 months ending November. The food index increased 2.6 percent over the last year.

Federal Government Shutdown

BLS did not collect survey data for October 2025 due to a lapse in appropriations. BLS was unable to retroactively collect these data. For a few indexes, BLS uses nonsurvey data sources instead of survey data to make the index calculations. BLS was able to retroactively acquire most of the nonsurvey data for October. CPI data collection resumed on November 14, 2025.

Additional information about the impact of the shutdown on CPI data is available online at https://www.bls.gov/cpi/additional-resources/2025-federal-government-shutdown-impact-cpi.htm

Food

The index for food increased 2.6 percent over the last year. The index for food at home rose 1.9 percent over the 12 months ending in November. The meats, poultry, fish, and eggs index rose 4.7 percent over the last 12 months. The index for nonalcoholic beverages increased 4.3 percent over the same period and the index for other food at home rose 1.3 percent. The cereals and bakery products index increased 1.9 percent over the 12 months ending in November and the fruits and vegetables index rose 0.1 percent over the year. In contrast, the index for dairy and related products decreased 1.6 percent over the same period.

The food away from home index rose 3.7 percent over the last year. The index for full service meals rose 4.3 percent and the index for limited service meals rose 3.0 percent over the same period.

Energy

The index for energy increased 4.2 percent over the past 12 months. The gasoline index rose 0.9 percent over this 12-month span and the fuel oil index increased 11.3 percent over the same period. The index for electricity increased 6.9 percent over the last 12 months and the index for natural gas rose 9.1 percent.

All items less food and energy

The index for all items less food and energy rose 2.6 percent over the past 12 months. The shelter index increased 3.0 percent over the last year. Other indexes with notable increases over the last year include medical care (+2.9 percent), household furnishings and operations (+4.6 percent), recreation (+1.8 percent), and used cars and trucks (+3.6 percent).

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.7 percent over the last 12 months to an index level of 324.122 (1982-84=100).

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.7 percent over the last 12 months to an index level of 317.414 (1982-84=100).

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.6 percent over the last 12 months. Please note that the indexes for the past 10 to 12 months are subject to revision.

Changes to the health insurance index

Effective with this release, the Bureau of Labor Statistics (BLS) removed long-term care (LTC) insurance from the health insurance index. There have been changes in the market for LTC insurance that now make it out of scope and ineligible for pricing in the CPI market basket.

Source: U.S. Bureau of Labor Statistics · Original release Dec 18, 2025.

Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.

MortgageRates.news analysis · Historical context

The mortgage market around this release

This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.

Read consumer inflation on a consistent basis

The Consumer Price Index measures changes in prices paid by urban consumers for a basket of goods and services. Check the index, reference month and seasonal adjustment before comparing figures. A monthly change and a twelve-month change describe different periods; the all-items index and the measure excluding food and energy cover different baskets. Consumer inflation informs the wider policy discussion, but the benchmark comparison below does not isolate this release from other information arriving during the month. BLS Consumer Price Index.

Nearest published observation on or before each target date
Benchmark30 days earlierNov 18, 2025Publication referenceDec 18, 202530 days laterJan 17, 2026
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.24%Observed 6.21%Observed −3 bps vs. earlier reference6.06%Observed −15 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.12%Observed 4.12%Observed Unchanged vs. earlier reference4.24%Observed +12 bps vs. publication reference

Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.

Six months around publication

Sep 18, 2025 – Mar 18, 2026
Historical mortgage and Treasury observations around Dec 18, 2025Each dot is a published observation. No missing values are estimated. The dashed vertical line marks the article’s publication calendar date. Rates and yields are percentages.3.50%5.00%6.50%Publication date30-year fixed mortgage: 6.26% · Sep 18, 202530-year fixed mortgage: 6.30% · Sep 25, 202530-year fixed mortgage: 6.34% · Oct 2, 202530-year fixed mortgage: 6.30% · Oct 9, 202530-year fixed mortgage: 6.27% · Oct 16, 202530-year fixed mortgage: 6.19% · Oct 23, 202530-year fixed mortgage: 6.17% · Oct 30, 202530-year fixed mortgage: 6.22% · Nov 6, 202530-year fixed mortgage: 6.24% · Nov 13, 202530-year fixed mortgage: 6.26% · Nov 20, 202530-year fixed mortgage: 6.23% · Nov 26, 202530-year fixed mortgage: 6.19% · Dec 4, 202530-year fixed mortgage: 6.22% · Dec 11, 202530-year fixed mortgage: 6.21% · Dec 18, 202530-year fixed mortgage: 6.18% · Dec 24, 202530-year fixed mortgage: 6.15% · Dec 31, 202530-year fixed mortgage: 6.16% · Jan 8, 202630-year fixed mortgage: 6.06% · Jan 15, 202630-year fixed mortgage: 6.09% · Jan 22, 202630-year fixed mortgage: 6.10% · Jan 29, 202630-year fixed mortgage: 6.11% · Feb 5, 202630-year fixed mortgage: 6.09% · Feb 12, 202630-year fixed mortgage: 6.01% · Feb 19, 202630-year fixed mortgage: 5.98% · Feb 26, 202630-year fixed mortgage: 6.00% · Mar 5, 202630-year fixed mortgage: 6.11% · Mar 12, 202610-year Treasury: 4.11% · Sep 18, 202510-year Treasury: 4.14% · Sep 19, 202510-year Treasury: 4.15% · Sep 22, 202510-year Treasury: 4.12% · Sep 23, 202510-year Treasury: 4.16% · Sep 24, 202510-year Treasury: 4.18% · Sep 25, 202510-year Treasury: 4.20% · Sep 26, 202510-year Treasury: 4.15% · Sep 29, 202510-year Treasury: 4.16% · Sep 30, 202510-year Treasury: 4.12% · Oct 1, 202510-year Treasury: 4.10% · Oct 2, 202510-year Treasury: 4.13% · Oct 3, 202510-year Treasury: 4.18% · Oct 6, 202510-year Treasury: 4.14% · Oct 7, 202510-year Treasury: 4.13% · Oct 8, 202510-year Treasury: 4.14% · Oct 9, 202510-year Treasury: 4.05% · Oct 10, 202510-year Treasury: 4.03% · Oct 14, 202510-year Treasury: 4.05% · Oct 15, 202510-year Treasury: 3.99% · Oct 16, 202510-year Treasury: 4.02% · Oct 17, 202510-year Treasury: 4.00% · Oct 20, 202510-year Treasury: 3.98% · Oct 21, 202510-year Treasury: 3.97% · Oct 22, 202510-year Treasury: 4.01% · Oct 23, 202510-year Treasury: 4.02% · Oct 24, 202510-year Treasury: 4.01% · Oct 27, 202510-year Treasury: 3.99% · Oct 28, 202510-year Treasury: 4.08% · Oct 29, 202510-year Treasury: 4.11% · Oct 30, 202510-year Treasury: 4.11% · Oct 31, 202510-year Treasury: 4.13% · Nov 3, 202510-year Treasury: 4.10% · Nov 4, 202510-year Treasury: 4.17% · Nov 5, 202510-year Treasury: 4.11% · Nov 6, 202510-year Treasury: 4.11% · Nov 7, 202510-year Treasury: 4.13% · Nov 10, 202510-year Treasury: 4.08% · Nov 12, 202510-year Treasury: 4.11% · Nov 13, 202510-year Treasury: 4.14% · Nov 14, 202510-year Treasury: 4.13% · Nov 17, 202510-year Treasury: 4.12% · Nov 18, 202510-year Treasury: 4.13% · Nov 19, 202510-year Treasury: 4.10% · Nov 20, 202510-year Treasury: 4.06% · Nov 21, 202510-year Treasury: 4.04% · Nov 24, 202510-year Treasury: 4.01% · Nov 25, 202510-year Treasury: 4.00% · Nov 26, 202510-year Treasury: 4.02% · Nov 28, 202510-year Treasury: 4.09% · Dec 1, 202510-year Treasury: 4.09% · Dec 2, 202510-year Treasury: 4.06% · Dec 3, 202510-year Treasury: 4.11% · Dec 4, 202510-year Treasury: 4.14% · Dec 5, 202510-year Treasury: 4.17% · Dec 8, 202510-year Treasury: 4.18% · Dec 9, 202510-year Treasury: 4.13% · Dec 10, 202510-year Treasury: 4.14% · Dec 11, 202510-year Treasury: 4.19% · Dec 12, 202510-year Treasury: 4.18% · Dec 15, 202510-year Treasury: 4.15% · Dec 16, 202510-year Treasury: 4.16% · Dec 17, 202510-year Treasury: 4.12% · Dec 18, 202510-year Treasury: 4.16% · Dec 19, 202510-year Treasury: 4.17% · Dec 22, 202510-year Treasury: 4.18% · Dec 23, 202510-year Treasury: 4.15% · Dec 24, 202510-year Treasury: 4.14% · Dec 26, 202510-year Treasury: 4.12% · Dec 29, 202510-year Treasury: 4.14% · Dec 30, 202510-year Treasury: 4.18% · Dec 31, 202510-year Treasury: 4.19% · Jan 2, 202610-year Treasury: 4.17% · Jan 5, 202610-year Treasury: 4.18% · Jan 6, 202610-year Treasury: 4.15% · Jan 7, 202610-year Treasury: 4.19% · Jan 8, 202610-year Treasury: 4.18% · Jan 9, 202610-year Treasury: 4.19% · Jan 12, 202610-year Treasury: 4.18% · Jan 13, 202610-year Treasury: 4.15% · Jan 14, 202610-year Treasury: 4.17% · Jan 15, 202610-year Treasury: 4.24% · Jan 16, 202610-year Treasury: 4.30% · Jan 20, 202610-year Treasury: 4.26% · Jan 21, 202610-year Treasury: 4.26% · Jan 22, 202610-year Treasury: 4.24% · Jan 23, 202610-year Treasury: 4.22% · Jan 26, 202610-year Treasury: 4.24% · Jan 27, 202610-year Treasury: 4.26% · Jan 28, 202610-year Treasury: 4.24% · Jan 29, 202610-year Treasury: 4.26% · Jan 30, 202610-year Treasury: 4.29% · Feb 2, 202610-year Treasury: 4.28% · Feb 3, 202610-year Treasury: 4.29% · Feb 4, 202610-year Treasury: 4.21% · Feb 5, 202610-year Treasury: 4.22% · Feb 6, 202610-year Treasury: 4.22% · Feb 9, 202610-year Treasury: 4.16% · Feb 10, 202610-year Treasury: 4.18% · Feb 11, 202610-year Treasury: 4.09% · Feb 12, 202610-year Treasury: 4.04% · Feb 13, 202610-year Treasury: 4.05% · Feb 17, 202610-year Treasury: 4.09% · Feb 18, 202610-year Treasury: 4.08% · Feb 19, 202610-year Treasury: 4.08% · Feb 20, 202610-year Treasury: 4.03% · Feb 23, 202610-year Treasury: 4.04% · Feb 24, 202610-year Treasury: 4.05% · Feb 25, 202610-year Treasury: 4.02% · Feb 26, 202610-year Treasury: 3.97% · Feb 27, 202610-year Treasury: 4.05% · Mar 2, 202610-year Treasury: 4.06% · Mar 3, 202610-year Treasury: 4.09% · Mar 4, 202610-year Treasury: 4.13% · Mar 5, 202610-year Treasury: 4.15% · Mar 6, 202610-year Treasury: 4.12% · Mar 9, 202610-year Treasury: 4.15% · Mar 10, 202610-year Treasury: 4.21% · Mar 11, 202610-year Treasury: 4.27% · Mar 12, 202610-year Treasury: 4.28% · Mar 13, 202610-year Treasury: 4.23% · Mar 16, 202610-year Treasury: 4.20% · Mar 17, 202610-year Treasury: 4.26% · Mar 18, 2026Sep 18, 2025Dec 18, 2025Mar 18, 2026
30-year fixed mortgage26 observations10-year Treasury123 observations
Dots show published observations only. Missing dates remain blank, with no interpolation. The series have different publication schedules and measure different markets.

What that benchmark difference would mean for a $300,000 loan

At the publication reference$1,839.35/month

6.21% · Dec 18, 2025

At the later reference$1,810.24/month

6.06% · Jan 15, 2026

The illustrative principal-and-interest payment is $29.11 lower per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.

Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.

Sources, historical coverage and calculation limits

The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.

Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.

How policy and mortgage rates connect →See current advertised mortgage options →