Rewinding further, the 30-year average notched a high 7.37% last spring, so today's rates are significantly improved vs. 10 months ago. They're also almost 1.2 percentage points cheaper than the historic 23-year peak of 8.01% reached in October 2023.

See current 30-year refinance rates and how they've been trending. Find the lowest rates to save on your mortgage, lower your payments, or access home equity.

Today, the mortgage interest rate on a 30-year fixed mortgage is 6.98%, according to the Mortgage Research Center, while the average rate on a 15-year mortgage is 6.05%. On a 30-year jumbo mortgage, the average rate is 7.

Refi rates have ticked down, lowering the 30-year rate average after two days of inching up. Rates for several other refi loan types also dropped Monday.

These are today's mortgage and refinance rates. Mortgage rates have held steady so far this month, and it's unclear if they'll drop much this year.