These are today's mortgage and refinance rates. If the Fed ends up keeping rates steady next month, we could see mortgage rates tick up slightly.

After a brief dip in September and early October, mortgage rates have crept back up toward the 7% mark. There's a chance they'll fall to 6% by Dec. 31, but a more likely scenario is rates reaching that level in 2025. You can snag a great deal on a mortgage by boosting your credit score, shedding debt, and shopping around.

Mortgage rates aren’t directly tied to the federal funds rate like savings and CDs. Instead, they’re tied to the 10-year Treasury yield, which is at its highest level in three months.

Thinking about taking out a mortgage loan? Current mortgage rates fall to 6.88% for 30-year terms, while 15-year terms decrease to 6.13%.

Assuming a 3.5% down payment and excluding tax and insurance, the typical payment at today’s 6.78% mortgage rate on a median-priced $424,950 home is roughly $2,668 per month. Last week, a median-priced home at a 6.79% mortgage rate would have cost homebuyers $2,671 per month—$3 more than what buyers would pay today.

Market-based rates such as mortgages tend to move in anticipation of future Fed policy — not the policy at the moment when the cuts happen.

Mortgage costs are rising - with the average rate on a two-year fixed deal now at 5.5% - despite a recent cut in interest rates. A string of lenders, including Barclays, HSBC, NatWest and Nationwide, have increased the rates charged on new fixed deals in recent days.

The current median interest rate is 6.88% for a 30-year fixed-rate mortgage and 6.13% for a 15-year fixed-rate mortgage

Mortgage rates ticked down from 6.79% last week to 6.78% for a 30-year fixed home loan for the week ending Nov. 14, according to Freddie Mac. "After a six-week climb, rates have leveled off, but overall affordability continues to be an issue for potential homebuyers,

Freddie Mac reports the 30-year fixed mortgage rate averaged 6.78% for the week ending Nov. 14 — down from 6.79% last week.