The rate on a 30-year fixed refinance declined to 6.59% today, according to the Mortgage Research Center. The average rate on a 15-year mortgage refinance is 5.51%. On a 20-year mortgage refinance, the average rate is 6.

With refi rates dropping to their lowest level since March, homeowners with a pricey mortgage may have the opportunity to refinance to more affordable monthly payments.

Multiple benchmark refinance rates trended upward this week, so it might be worth waiting.