These are today's mortgage and refinance rates. Strong economic data pushed rates up last week. Where they go next depends on the Fed.

Learn more Mortgage rates are slightly down this week, with the average 30-year fixed-rate loan at 6.76%, according to Freddie Mac data on May 1. “Mortgage rates again declined this week,” said Freddie Mac Chief Economist Sam Khater in a statement.

The Federal Reserve has rate cuts on hold, but a weakening economic picture could push mortgage rates down further.