Consumers have been eagerly awaiting interest rate cuts for several years, hoping the cuts would translate to a reduction in mortgage rates. When the Fed finally slashed interest rates by 0.5% in September,

Thinking about taking out a mortgage loan? Current mortgage rates remain at 6.88% for 30-year terms, while 15-year terms rise to 6.25%. Valerie Morris is a content editor with a focus on personal finance.

Homebuilding sector analysts at Raymond James and Associates see mortgage rates remaining “higher for longer,” given the outcome of the election.

The mortgage interest rates of 2020 and 2021 may never reappear but, if they do, it will be a gradual process to get them back there (minus a catastrophic economic downturn). Homebuyers and homeowners looking to refinance, then, shouldn't wait for a perfect circumstance that's unlikely to materialize.

Though the Federal Reserve has been cutting interest rates, mortgage rates have been increasing or holding steady. When will potential homeowners see mortgage relief.

The median interest rate on a 30-year fixed-rate mortgage is 6.88% as of November 12, which is unchanged from yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 6.13%, which is also unchanged from yesterday.

Mortgage rates, in particular, surged last year to their highest level since 2000 but have since come down alongside inflation. But it's been a bumpy ride back to the bottom in recent weeks. What, then, does this latest Fed rate cut mean for mortgage interest rates? That's what we'll break down below.

Despite the increase in rates, some home buyers were returning to the market, according to the Mortgage Bankers Association. The market composite index — a measure of mortgage a

US mortgage rates continued to rise, building on a recent run-up after Donald Trump won the presidential election.