A FED economic report, expected to be released on December 12, could highlight stalled progress in curbing inflation in the United States. Economists are uncertain whether the data will dissuade the Federal Reserve from implementing a widely expected interest rate cut during its policy meeting next week.

Average mortgage rates surged to around 7% last month, but they've dropped recently, with markets betting that the Federal Reserve will reduce the federal funds rate on Dec. 18.

President-elect Trump's victory will have a direct impact on how much the Federal Open Market Committee will cut short-term rates next year, Wolters Kluwer found.