The average 30-year fixed mortgage interest rate is 6.75% today, up 0.04% from seven days ago. The average rate for a 15-year fixed mortgage is 6.00%, which is an increase of 0.06% compared to a week ago. To secure a lower mortgage interest rate, consider increasing your down payment, improving your credit score or purchasing mortgage points.

Some investors had clung to a bit of hope that the Federal Reserve would cut interest rates at its next meeting on July 30. Tuesday's report on inflation brought the chances of that down even further.