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.

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,