When rates fell to around 6.7% (the lowest level in months) in early July, applications for home loans promptly ticked up, according to the Mortgage Bankers Association. But when the average 30-year fixed rate jumped to around 6.8% last week, mortgage activity plummeted 10%.

The rate on a 30-year fixed refinance slipped to 6.83% today, according to the Mortgage Research Center. Rates averaged 5.75% for a 15-year financed mortgage and 6.68% for a 20-year financed mortgage.

Explore current mortgage rates and what they mean for homebuyers.