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.

Mortgage rates reached their highest level since July, but it didn’t deter homebuyers as purchase applications increased.

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

These are today's mortgage and refinance rates. Mortgage rates have remained elevated in spite of recent Fed cuts. But they may drop next year.

The current median interest rate is 6.99% for a 30-year fixed-rate mortgage and 6.13% for a 15-year fixed-rate mortgage

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.

These are today's mortgage and refinance rates. Mortgage rates are forecast to go down in 2025, but if inflation reignites, that outlook could change.

The 30-year fixed mortgages in this week’s survey had an average total of 0.27 discount and origination points. Discount points are a way for you to reduce your mortgage rate, while origination points are fees lenders charge to create,