Mortgage rates are up, but still under 7%. Today’s national average on a 30-year fixed-rate mortgage is 6.70%, according to Bankrate. If you choose a 15-year fixed-rate mortgage, the average rate is 5.

Fed rate cuts are still on the table this year, but stronger-than-expected job data will keep policymakers on hold this month.

“Rates typically move higher if job openings are higher than expected, all else equal,” wrote Matthew Graham, chief operating officer at Mortgage News Daily, adding that this data-driven volatility is nothing compared with what could be seen on Thursday following the government’s release of the monthly employment report.