Mortgage refinance rates didn’t move at 6.65% today, according to the Mortgage Research Center. The average rate on a 15-year mortgage refinance is 5.63%. On a 20-year mortgage refinance, the average rate is 6.

Rates on 30-year new purchase mortgages dropped for a fifth day Thursday, slipping another 3 basis points to create a week-long decline of 23 points. The current average of 6.60% establishes a new low point for this year, with the last time rates were cheaper being two weeks before Christmas.

"This week, mortgage rates decreased to their lowest level in over two months," says Freddie Mac Chief Economist Sam Khater. "The drop in mortgage rates, combined with modestly improving inventory, is an encouraging sign for consumers in the market to buy a home."

My husband and I had put off buying our "forever home" for some time, holding onto our smallish condo with the 2.75% mortgage rate we scored during the pandemic. Over the last few years, we've watched supply remain stagnant while property values continue their steady upward march.

These are today's mortgage and refinance rates. Mortgage rates are down this week. If you're thinking about buying, now could be a good time to do so.

The current average mortgage rate on a 30-year fixed mortgage is 6.55%, according to the Mortgage Research Center. The average rate on a 15-year mortgage is 5.64%, while the average rate on a 30-year jumbo mortgage is 6.