After sinking most of the last three weeks and dipping to a 7-week low, 30-year mortgage rates have ticked up slightly. Rates moved higher for many other loan types as well.

The rate on a 30-year fixed refinance dropped today. Refinancing rates for a 30-year, fixed-mortgage are averaging 7.10%, according to Curinos. For 15-year fixed mortgages, the average refinance rate is 6.

"While we may see mortgage rates drop modestly in December, anyone expecting a significant change for the better may be disappointed," says Darren Tooley, senior loan officer at Cornerstone Financial Services. Change likely isn't on the horizon for a few reasons, according to Tooley.

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

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

Buying a home can be challenging right now with home prices high, existing homes in short supply, and interest rates still relatively elevated. According to Harvard University, the U.S. home price index is 47% higher than in 2020,