Mortgage Rates Edge Higher Despite Inflation Slowdown

Average rates for 30-year and 15-year mortgages increase slightly, with market conditions keeping rates elevated.

The average 30-year fixed mortgage rate is now 7.17% for purchases and 7.18% for refinancing.
15-year fixed mortgage rates have risen to 6.62% for purchases and 6.63% for refinancing.
The Federal Reserve has kept the benchmark interest rate unchanged at 5.25% to 5.50%.
Inflation has slowed, but sticky inflation has kept mortgage rates from dropping significantly.
A recent antitrust settlement may help future homebuyers save on real estate commissions.