These are today's mortgage and refinance rates. Mortgage rates are likely to remain elevated until inflation comes down further.

Heading into today's Fed announcement, we didn't expect to receive any significant surprise on the stance of monetary policy.  Financial markets had long since ruled out the possibility of a rate cut and we knew Powell could only really acknowledge recent progress in inflation data while maintaining that more progress is needed for additional rate cuts.

Friday, ending the week just a few basis points above their lowest level of the new year. Many other loan types also saw steady averages.