These are today's mortgage and refinance rates. Mortgage rates are supposed to drop next year, but that hinges on inflation remaining low.

Pending home sales increased in October as house hunters reacted to increased property inventory and confidence over economic conditions.

It's looking less likely that homebuyers will see lower mortgage rates by the end of this year. It's hard to be thankful for today's housing market. Mortgage rates are high, prices are rising and inventory is still limited.