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.

Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months.

Federal Reserve Bank of Boston President Susan Collins said a December interest-rate cut remains on the table, emphasizing the central bank’s decision will be guided by incoming data.

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

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.