The U.S. Federal Reserve is no longer expected to cut interest rates at its December policy meeting, Nomura has said, making it the first global brokerage to signal a pause in the central bank's rate-cutting cycle in the wake of Donald Trump's election win.

These are today's mortgage and refinance rates. If the Fed ends up keeping rates steady next month, we could see mortgage rates tick up slightly.

Another rate cut in December is “certainly on the table, but it’s not a done deal,” said Boston Fed President Susan Collins in an interview Thursday. “There’s more data that we will see between now and December, and we’ll have to continue to weigh what makes sense.”