Would-be home buyers have faced unprecedented challenges in the housing market in the post-pandemic era as surging home prices combined with high mortgage rates made homeownership unaffordable for many.

Rates for 30-year new purchase mortgages fell again, lowering the average to its cheapest level in six weeks. Rates moved lower for almost every other loan type as well.

These are today's mortgage and refinance rates. Mortgage rates are down slightly today, but where they go next depends on incoming economic data.

The Federal Reserve is scheduled to meet December 17 and 18 and, if they change the benchmark rate, this will affect the costs at which banks access credit. This change can indirectly impact consumer loan costs. Fed rate cuts also drive changes in financial indexes used to set variable HELOC rates.

Rates for 30-year new purchase mortgages fell Friday, lowering the flagship average to it cheapest level since mid-October. Rates on other loan types showed mixed movement.