Assuming a 3.5% down payment and excluding tax and insurance, the typical payment at today’s 6.32% mortgage rate on a median-priced $425,000 home is roughly $2,544 per month. Last week, a median-priced home at a 6.12% mortgage rate would have cost homebuyers $2,491 per month—$53 less than what buyers would pay today.

These are today's mortgage and refinance rates. Mortgage rates are up this month. As rates go down next year, buying a home should get more affordable.

Experts say a few reasons for this increase are because the 10-year yield, along with longer-term rates have both gone up.