These are today's mortgage and refinance rates. Mortgage rates are supposed to drop next year, but that hinges on inflation remaining low.

Rates on new 30-year home loans held their ground at a slightly lower level Tuesday, after sinking dramatically Monday. Movement was mixed for other loan types.

It's looking less likely that homebuyers will see lower mortgage rates by the end of this year. It's hard to be thankful for today's housing market. Mortgage rates are high, prices are rising and inventory is still limited.

Pending home sales increased in October as house hunters reacted to increased property inventory and confidence over economic conditions.

"At this point, 6% mortgage rates by the end of 2024 seem unlikely," said Jacob Channel, senior economist at Lending Tree. "The uncertainty brought about by the results of the pre