These are today's mortgage and refinance rates. Mortgage rates are down slightly today. But affordability isn't likely to improve much this year.

Today’s average mortgage rate on a 30-year fixed-rate mortgage is 6.87%, down 0.11 percentage point from the previous week, according to the Mortgage Research Center. Borrowers may be able to save on interest costs by going with a 15-year fixed mortgage,

Mortgage rates moved slightly lower this week, but not enough to motivate most buyers. The average rate on the 30-year fixed-rate mortgage fell five basis points to 6.79% the week ending Feb. 20, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.