Will it be took chilly for a short Swiss trip in Nov 1st week?

Weather isn't your only Swiss issue to consider. Actually cold isn't the issue , but clouds and rain, which would fog in the summits.
November will be off season in the Alps, where many businesses and lodgings take a break between summer/fall season and ski season. Many of the lifts will be closed for maintenance. I'd check booking.com to research which places are open. Lauterbrunen is more charming than Interlaken; Murren and Wengen are most charming, but there may not be many options in November.
The charming cities, such a Lucerne, should have lodging options, and you could access Mt Rigi if the weather is clear.
As much as I love Switzerland, I think Florence and Venice offer more activities in November.
Have a great trip.

I concur with Pat. Nov is when Swiss fly or drive out of the country for their weekends to avoid dreary weather.

What do you imagine "Exploring Interlaken" is like?

You can walk from Interaken West Station to Interlaken Ost in about an hour, via Unterseen, the Aare river, and maybe the big commons in the middle. You have now seen Interlaken. There is nothing more to explore. While not unpleasant it is not what people come to Interlaken for.

People come to Interlaken not to explore Interlaken. They come to Interlaken to explore the area around Interlaken. But most of the stuff in the area will be closed. Wengen will be deserted (looking forward to that). Most cable cars are closed. The Jungraujoch operates, but that is mostly it.

Given the short time you have I would suggest just to spend it all in Luzern. There is enough to do around there. The Jungfraujoch is expensive, and a bit overrated in my opinion.

Schilthornbahn will be running. There is a replacement bus for a section of the Luzern-Interlaken train.

it will be chilly and likely there will be rain or snow for part of the time

I totally agree with WengenK re Interlaken, I wouldn’t spend much time there. Lucerne, however, was wonderful- beautiful old town area, lake, mountains. If you are set on Jungfrau there are actually day trips available from Lucerne, it would be a long day.

I had heard a lot about Lauterbrunnen, Grindelwald, so I was wondering we could stay in Interlaken, and explore more within those areas depending on what's avaiable, not just jungfrau.
Is that not recommended?
Is the weather in Lucerne better in general, so I should stay there instead?

Hi Amy, I guess you're flying out of Zurich back to the US, so travel into Switzerland makes sense. But you do run the risk of seeing basically nothing of the mountains due to fog & rain, which has it's charms but might not be what you're looking for! Personally, I too love Switzerland, (lived in the Alps for a year) but wouldn't prioritize it over Italy in November. I would add extra time in Florence & Venice, stop in Lucern for a few days where you will have outdoor and indoor activities available if weather is poor, & head to Zurich. Good luck and hope your trip goes well. I saw the other post on Rome, you've got a lot going on arranging this trip at the last minute for 5 people! (PS, I forgot to mention cold weather gear! Water-proof, broken in shoes, a puffer coat and waterproof rain coat, layers, maybe silk long underwear. Oops, And a hat that covers your ears, gloves & Smart wool socks.)

There is a difference in weather in Switzerland between the cities and valleys, and as you ascend the mountains. Perhaps do some research regarding altitudes of the places you may stay. Also, Interlaken is a commercial transit center, not a charming Swiss village.
Safe travels!

Totally makes sense, thanks everyone!
Swiss travel dates were supposed to be Nov2nd - Nov6th, had no idea the weather would be that bad even in Nov 1st week, but yeah should have looked at altitudes.

Oh, you can certainly base yourself in Interlaken and explore the Jungfrau Area from there. But expect it to be quiet, with lots of businesses closed. However "exploring the Jungfrau Area" is not the same as "exploring Interlaken". Interlaken is just to town on the plain between the lakes of Thun and Brienz.

And whereas Luzern (and other Swiss cities like Bern and Basel) are the product of history, Interlaken is the product of Tourism. So in Luzern you can easily spend hours just exploring the old town. Interlaken does not have that history, so there aren't really any sights in town.