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.

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.

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.

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

On Nov. 7, the Federal Reserve implemented a 0.25% reduction to the federal funds rate, its second cut in over four years. Prospective homebuyers are eager for a silver lining in the housing market. But experts don't anticipate dramatically lower rates before the end of the year.

These are today's mortgage and refinance rates. Mortgage rates have increased a bit as markets look to whether the Fed will cut rates in December.

Federal Reserve Bank of Chicago President Austan Goolsbee on Friday signaled he feels the U.S. central bank will likely end up cutting the policy rate by another quarter of a percentage point this year and a full percentage point further next year,

Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months.