Average mortgage refinance rates have been volleying between 6.5% and 7% as fears of both higher inflation and an economic slowdown play tug-of-war with financial markets. Overall, rates are too high for most homeowners to save money from refinancing.

Mortgage rates are up today, and under 7%. Today’s national average on a 30-year fixed-rate mortgage is 6.99%, according to Bankrate. If you choose a 15-year fixed-rate mortgage, the average rate is 6.

Rates moved lower for almost all other refi loan types as well Monday. The 15-year refinance average dipped a minor 2 basis points, while the 20-year average gave up 8 points and jumbo 30-year refinance rates subtracted a bold 12 basis points.