These are today's mortgage and refinance rates. Mortgage rates are likely to remain elevated until inflation comes down further.

The federal funds rate and mortgage interest rates are often expected to move together, but they haven’t lately. Here’s why.

It's important to understand that the Fed's decision to pause rate cuts will not directly impact mortgage rates. Mortgage rates are actually driven by a range of factors, including the Fed's rate changes. This week's Fed rate decision does, however, have a big influence on where mortgage rates could head.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) remained unchanged at 7.02%.

Mortgage rates are largely stuck at 7% for the time being. The Federal Reserve on Wednesday announced that it was holding its benchmark interest rate steady. The 30-year mortgage rate barely budged following the Fed’s announcement,

Heading into today's Fed announcement, we didn't expect to receive any significant surprise on the stance of monetary policy.  Financial markets had long since ruled out the possibility of a rate cut and we knew Powell could only really acknowledge recent progress in inflation data while maintaining that more progress is needed for additional rate cuts.

Learn how Fed meetings affect mortgage rates and what it means for borrowers. Discover trends, impacts, and expert predictions on mortgage rates.

We analyzed mortgage reviews on 10 major financial sites to find out which providers landed on the most “best mortgage” lists