Mortgage refinance rates fell below 6.5% this week for the first time in a while. The 30-year fixed refinance average hit its lowest point since May according to new data. This marks a decline, but some lenders reported a jump to 6.6% on the same day. Refinance demand dropped further despite the slight rate decline. Overall mortgage applications increased due to higher homebuying activity. Reports from multiple sources show fluctuating movements in the market. While a source noted mixed rates, a different report highlighted the jump to 6.6%. Yet another confirmed the drop to 6.47%. Borrowers still face higher costs compared to previous years. Lenders stay cautious as the market adjusts to new conditions.