Rates on 30-year mortgage fell slightly Tuesday to a 6.91% average, putting an end to a three-day climb that pushed the national average to its high level since July. Back in September, mortgage rates plunged to a 2-year low. But since then, they've surged.

Interest rate cuts are underway at the Federal Reserve, but consumers have yet to get much relief. The rates individuals pay on loans from banks and credit card companies have barely budged, while would-be homebuyers hoping for relief from lower mortgage rates have instead seen those rates rise.