Most outstanding mortgages have a 6% or lower rate, which creates a " lock-in effect " for many current owners who don't want to swap a low rate for a higher one. This could limit homeowners’ willingness to sell, slowing or stalling the housing market.

Mortgage rates are ticking up, even after the Federal Reserve has started cutting interest rates. Here's why, and where rates — and home sales — could go from here.

The average rate on a 30-year mortgage in the U.S. rose for the third week in a row, reaching its highest level in eight weeks.

Mortgage rates rose to the highest level in nearly two months. The average rate on a standard 30-year fixed mortgage rose to 6.44%, according to a survey of lenders released Thursday by the mortgage-finance company Freddie Mac.

Long-term mortgage rates continue to head in the wrong direction for homebuyers. Today, Freddie Mac reported 6.44% as the average on a 30-year mortgage, up 12 basis points from last week. It is the third week in a row that rates have increased.

Because rates vary widely across lenders, it's always smart to shop around for your best mortgage rate and compare rates regularly, no matter the type of home loan you seek. Rates on 30-year new purchase mortgages added 6 basis points Thursday,

TRREB: Housing market might not rebound for another year Jason Mercer, chief market analyst at Toronto Regional Real Estate Board, talks with Financial Post’s Larysa Harapyn about how the housing market might not rebound for another year.