Mortgage rates spiked earlier this week, but they've since trended back down, and are now the lowest they've been in two weeks.
On the other hand, if it raises rates too high, it could push the economy into a recession, which would likely bring mortgage rates down.
See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments.
30-year fixed mortgage ratesThe current average 30-year fixed mortgage rate is 7.08%, according to Freddie Mac.
15-year fixed mortgage ratesThe average 15-year fixed mortgage rate is 6.36%, an increase from the prior week, according to Freddie Mac data.