The rate on a 30-year fixed refinance dropped to 6.02% today, according to the Mortgage Research Center. Rates averaged 5.27% for a 15-year financed mortgage and 5.93% for a 20-year financed mortgage.

Mortgage Research Center. Rates averaged 5.25% for a 15-year financed mortgage and 5.99% for a 20-year financed mortgage.

Compare today’s best mortgage refinance rates, compiled from hundreds of loan offers and analyzed by Investopedia’s mortgage rate experts.

A $400,000 mortgage refinanced at today’s rates could lower monthly payments by roughly $260, though closing costs can offset those savings.

Mortgage rates dropped again last week, sparking a small jump in refinancing, but potential buyers were not impressed.