The rate on a 30-year fixed refinance increased today. The current 30-year, fixed-rate mortgage refinance rate is averaging 7.12%, according to Curinos, while 15-year, fixed-rate refinance mortgages average of 6.

While mortgage rates don't look like they'll fall much throughout December, decreases are more likely over the next few years. Yun predicts six to eight more Fed rate cuts in this cycle and thinks mortgage rates will bounce around between 5.5% and 6.5% over the next four years.

Mortgage rates were having a pretty decent day at first.  The bond market was only slightly weaker overnight (implies some upward pressure on rates), but quickly improved after the Consumer Price Index (CPI) data at 8:30am ET.

These are today's mortgage and refinance rates. Mortgage rates have decreased a bit this month, providing some relief for hopeful homebuyers.

A recent CNET survey found that half of US adults would realistically consider purchasing a home or refinancing an existing mortgage if rates were to drop to 4% or below. Yet most