Thinking about taking out a mortgage loan? Current mortgage rates remain at 6.88% for 30-year terms, while 15-year terms rise to 6.25%. Valerie Morris is a content editor with a focus on personal finance.

Homebuilding sector analysts at Raymond James and Associates see mortgage rates remaining “higher for longer,” given the outcome of the election.

The numbers: Applications for mortgages inched up over the past week, despite the 30-year creeping closer to 7%. The 30-year rate rose for the seventh week in a row, after Donald Trump won the presidential election and the Federal Reserve cut its interest rate by 25 basis points.

The average 30-year mortgage rate has been above 6% for two years — and is likely to stay above that level for the foreseeable future, experts say. A combination of better-than-

The mortgage interest rates of 2020 and 2021 may never reappear but, if they do, it will be a gradual process to get them back there (minus a catastrophic economic downturn). Homebuyers and homeowners looking to refinance, then, shouldn't wait for a perfect circumstance that's unlikely to materialize.

US mortgage rates continued to rise, building on a recent run-up after Donald Trump won the presidential election.