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 current median interest rate is 6.99% for a 30-year fixed-rate mortgage and 6.13% for a 15-year fixed-rate mortgage

The latest rise, to 6.79% for a 30-year mortgage, reflects bond market concern about President-elect Trump’s agenda. It extends an uptick in mortgage rates despite expected Federal Reserve rate cuts.

Mortgage rates, in particular, surged last year to their highest level since 2000 but have since come down alongside inflation. But it's been a bumpy ride back to the bottom in recent weeks. What, then, does this latest Fed rate cut mean for mortgage interest rates? That's what we'll break down below.

Following the Fed's 0.5% rate cut in September, mortgage rates went up, not down. Even though the central bank's policy decisions and economic outlook affect credit markets, the F

Jason Furman, former chairman of the Council of Economic Advisers, says he expects the Federal Reserve to cut rates again in December, but after that, the pace of cutting will slow down. He's on "." (

The Federal Reserve has made two consecutive interest rate cuts but potential homebuyers are wondering when mortgage rates will drop. CBS News MoneyWatch correspondent Kelly O'Grady breaks down what this means.

Neel Kashkari, the president of the Minneapolis Federal Reserve, tells "Face the Nation with Margaret Brennan" that another interest rate cut after the December Fed meeting is "certainly possible" but "we want to have confidence that inflation is going to go all the way back down to our 2% target.