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.

The Fed has two main objectives: maintain maximum employment and contain inflation. Although one single data point is never decisive, when inflation is high, the Fed generally raises interest rates to slow demand. When the unemployment rate is high, the Fed often lowers interest rates to stimulate consumer activity.

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