A rise in mortgage interest rates has led to a decline in people applying for home loans and homeowners refinancing.

Mortgage rates retreated this week, with the 30-year fixed rate averaging 6.76 percent, compared to 6.81 percent the previous week, according to Bankrate’s latest lender survey.

Ongoing uncertainty could cause rates to stay high, or increase further. For instance, if tariffs cause inflation to reignite, which most experts and Fed officials expect, it could result in higher bond yields and fewer interest rate cuts by the central bank. Both would be bad for mortgage rates.