Mortgage refinance rates fell below 6.5% this week for the first time in over a month. The 30-year fixed refinance average reached 6.47% according to new data. This marks a decline, but a few lenders noted a jump to 6.6% on the same day. Refinance demand dropped further despite the slight rate decline. Overall mortgage applications rose due to stronger homebuying activity. Reports from multiple sources show mixed movements in the market. While a source noted mixed rates, a different report highlighted the jump to 6.6%. A third confirmed the drop to 6.47%. Borrowers still face higher costs compared to earlier years. Lenders stay cautious as the market adapts to new conditions.