Despite an interest rate cut in early December, mortgage rates continue to rise. The average rate for a 30-year mortgage just increased to 6.85%, the highest since July.

Since rates vary widely across lenders, it's always smart to shop around for your best mortgage rate and compare rates regularly, no matter the type of home loan you seek. On Wednesday's news that the Fed is expecting to make fewer rate cuts in 2024 than previously projected,

Sales were 6.1% higher than November 2023. This is the third-highest pace of the year and the largest annual gain in three years.

These are today's mortgage and refinance rates. Mortgage rates went up after last week's Fed meeting, and they may only ease a little bit in 2025.