"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."

The rate on a 30-year fixed refinance decreased to 6.7% today, according to the Mortgage Research Center. For 15-year fixed refinance mortgages, the average rate is 5.66%, and for 20-year mortgages, the average 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.

These are today's mortgage and refinance rates. Mortgage rates are way down today, but it's unclear if they'll stay this low.

The current average mortgage rate on a 30-year fixed mortgage is 6.63% with an APR of 6.66%, according to the Mortgage Research Center. The 15-year fixed mortgage has an average rate of 5.71% with an APR of 5.

Rates on 30-year new purchase mortgages dropped for a sixth day Thursday, ticking down 1 basis point to an average of 6.59%. In the past six days, the flagship rate has shed 24 points. The current average of 6.59% establishes a new low point for this year.