Mortgage rates for November 14, 2024, are around 6.60%. Rates have been high in recent weeks as markets wait for more data showing how the economy is faring. If inflation doesn't decelerate further, mortgage rates may remain near their current levels for longer than expected.

Mortgage interest rates plunged in 2020 in response to a cut to the federal funds rate sparked by the pandemic. But they rose exponentially in the years that followed as inflation surged and the Federal Reserve issued a series of interest rate hikes aiming to keep it from rising further.

These are today's mortgage and refinance rates. Mortgage rates are down slightly today, but they're still higher than they've been in recent months.