So far this year, average mortgage rates have stayed stubbornly high, bouncing between 6.5% and 7%, as financial markets weigh the risks of both higher inflation and an economic slowdown. Most homeowners, unable to save money by refinancing, are holding out for bigger rate drops.

Rates for new 30-year loans continue to bob around a bit above the low reached two weeks ago. Rates for several other loan types are also wavering.