If you paid attention to the Federal Reserve's monetary decisions last year, you might have been surprised by something: The central bank's three interest rate cuts didn't help mortgage rates get cheaper for homebuyers.

Mortgage rates made little movement this week amidst the backdrop of a Federal Reserve meeting and a sluggish housing market. A stock sell-off and a barrage of back-and-forth over executive

It takes time for the Fed’s decisions to filter through the economy — and then even more time for consumers to see the difference.

These are today's mortgage and refinance rates. Mortgage rates are likely to remain elevated until inflation comes down further.