Credible is solely responsible for this content and the services it provides. The median interest rate on a 30-year fixed-rate mortgage is 6.99% as of November 14, which is 0.11 percentage points higher than yesterday. Additionally, the median interest ...

The current median interest rate is 6.99% for a 30-year fixed-rate mortgage and 6.25% for a 15-year fixed-rate mortgage

This uptick underscores the challenges facing the Federal Reserve, which began easing interest rates in September in response to declining price pressures and signs of a weaker labor market. The Fed slashed its benchmark rate by 0.

Thinking about taking out a mortgage loan? Current mortgage rates remain at 6.88% for 30-year terms, while 15-year terms rise to 6.25%. Valerie Morris is a content editor with a focus on personal finance.

These are today's mortgage and refinance rates. Mortgage rates are expected to go down next year, but that hinges on inflation continuing to slow.

Mortgage experts agree that the right time to lock in a rate depends on your situation. Making your move later this month could offer some advantages. But your timeline, financial readiness and local housing market should guide your decision. The choice isn't just about getting the lowest rate — you must find the right balance for your needs.