Mortgage rates are currently at 6.32% for a 30-year fixed rate and 5.70% for a 15-year fixed rate, making it a good time to buy a house if you can secure a similar rate. The gap between market and Fed expectations could lead to upward pressure on rates, but for now, rates are below 6.5%. When refinancing, rates are slightly higher, with a 30-year fixed rate at 6.46% and a 15-year fixed rate at 5.73%. Adjustable-rate mortgages can offer lower initial rates, but it’s important to consider potential rate increases in the future. Factors such as down payment, credit score, and debt-to-income ratio can impact the rate you receive, with lower rates often given to those with stronger financial profiles.

Read more at Yahoo Finance: A gap between market and Fed expectations