Mortgage rates are up just a couple of basis points since last week, keeping them near their post-Christmas low. Rates on new 30-year fixed-rate loans averaged 6.98% on Friday, as compared to the 4-week low of 6.93%. 15-year loans saw their Friday-to-Friday average rise a more sizable 8 basis points, now up to 6.14%.

Even the Federal Reserve, which sets a short-term benchmark interest rate for lenders, only indirectly impacts the mortgage market. The Fed is expected to hold interest rates stea

Economic and monetary policy uncertainty and inflationary concerns will likely keep mortgage rates elevated for the near future.”

The average rate on the 30-year fixed-rate mortgage fell 12 basis points to 6.94% in the week ending Jan. 23, according to rates provided to NerdWallet by Zillow. A basis point is one-one hundredth of a percentage point. The previous week had been the first time that the 30-year rate had inched above 7% since May.

These are today's mortgage and refinance rates. The Fed isn't expected to cut rates this week, but we may see mortgage rates fluctuate anyway.

Higher interest rates add to problems with affordability that have hammered the housing market for the last two years. Prices have continued to climb despite slower sales volume, posting 17

The average rate on a 30-year mortgage in the U.S. eased this week to just below 7%, its first decline after climbing five weeks in a row. The rate fell to 6.96% from 7.04% last week, mortgage buyer Freddie Mac said Thursday.

After falling for four days and then holding at that level for another day, rates on 30-year mortgages added points Thursday, as did most other loan types.