Some of the rate stability can be attributed to the Federal Reserve. The central bank has left short-term interest rates untouched this year, including at its June 17-18 meeting. In a statement, the Fed said it would keep an eye on inflation and employment to decide what to do next — and when.

Mortgage rates seem to have a mind of their own — sometimes rising when you'd expect them to fall. Learn how the Fed rate affects home borrowing costs for smarter financial decisions, plus actionable tips.