The Federal Open Market Committee will announce its next scheduled decision on interest rates on December 18. A rate cut is likely but far from certain.

Strong U.S. economic and inflation data continue to reshape the debate among Federal Reserve policymakers over the pace and extent of interest rate cuts as investors on Friday further downgraded their expectations for a rate reduction at the central bank's December meeting.

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.