The rate on a 30-year fixed refinance decreased to 6.72% today, according to the Mortgage Research Center. The 15-year, fixed-rate refinance mortgage average rate is 5.69%. For 20-year mortgage refinances,

Trump could order the Treasury Department to start buying mortgage-backed securities, like when the Federal Reserve bought roughly $1.45 trillion of MBSs during the Great Recession. That was popularly known as quantitative easing. Buying MBS can reduce mortgage rates by increasing competition and increasing mortgage market liquidity.

U.S. mortgage rates dropped last week to the lowest level this year, but not enough to spur a rebound lending activity.

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.