These are today's mortgage and refinance rates. Mortgage rates have inched up near 6% in response to expectations of smaller Fed cuts this year.

When investors buy more Treasury bonds, their yields typically fall. Lenders often use these Treasury rates as a benchmark for setting mortgage rates. Mortgage rates tend to follow suit when Treasury rates drop due to global events — potentially making borrowing more affordable.

The Federal Reserve cut interest rates, then standard 30-year mortgage rates went up. It’s a warning that lower rates from here are not a foregone conclusion.

These are today's mortgage and refinance rates. Mortgage rates have been higher in October thanks to unexpectedly strong labor market data.

Mortgage interest rates could still fall in October, even without a Fed meeting. Here's what could cause that drop.