Should you refinance your mortgage in light of the Fed's rate cuts? Here's why holding off until the new year could work to your benefit.

These are today's mortgage and refinance rates. If the Fed ends up keeping rates steady next month, we could see mortgage rates tick up slightly.

Mortgage rates ticked down from 6.79% last week to 6.78% for a 30-year fixed home loan for the week ending Nov. 14, according to Freddie Mac. "After a six-week climb, rates have leveled off, but overall affordability continues to be an issue for potential homebuyers,

Mortgage rates remain stubbornly high. In late September, it was looking like mortgage rates would drop below 6% before the end of the year. But then that downward streak ended, l

These are today's mortgage and refinance rates. Mortgage rates have increased a bit as markets look to whether the Fed will cut rates in December.

Market-based rates such as mortgages tend to move in anticipation of future Fed policy — not the policy at the moment when the cuts happen.

Freddie Mac reports the 30-year fixed mortgage rate averaged 6.78% for the week ending Nov. 14 — down from 6.79% last week.