Mortgage interest rates are on the decline. Is now the time to refinance your mortgage? We asked some experts.

Refinance rates on 30-year mortgages subtracted another 2 basis points Monday, lowering the national average to 6.27%. That's now the lowest reading for 30-year refi rates in almost two weeks. But it's also about a quarter percentage point above the Sept. 16 low of 6.01%—the cheapest level seen in 19 months.

Thinking about taking out a mortgage loan? Current mortgage rates drop to 5.99% for 30-year terms, while 15-year terms stay at 5.25%. Valerie Morris is a content editor with a focus on personal finance.

Mortgage interest rates could still fall in October, even without a Fed meeting. Here's what could cause that drop.

Jerome Powell and the Federal Reserve did as expected on Sept. 18, cutting the benchmark interest rate by 50 basis points to 4.75% to 5%. This is a sign that inflation has mostly been tamed. It also suggests that mortgage rates will follow suit,

Key Takeaways - When Should You Refinance an Adjustable-Rate Mortgage? Adjustable-rate mortgage loans grew more popular in 2022 thanks to a record surge in mortgage rates. Favorable short-term introductory rates can make ARMs an attractive option for some homebuyers.