These are today's mortgage and refinance rates. Mortgage rates are up this month, but they're still down over a full percentage point from last year.

Rates on 30-year mortgages have wavered in a narrow range for more than a week, well above last month's sub-6% low. Rates for most loan types dipped Tuesday.

As of Oct. 16, according to Credible data gathered from more than 500 U.S. lenders*, the median interest rate on a 30-year fixed-rate mortgage is 6.50%, which is unchanged from yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 5.75%, which is 0.13 percentage points lower than yesterday.

What’s wrong with this picture,” prospective homebuyers may be asking. The Federal Reserve cut interest rates by .50% but mortgage rates have risen for th